Glenmede Trust Co. NA reduced its position in shares of Southwest Airlines (NYSE:LUV) by 4.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,200,768 shares of the airline’s stock after selling 101,315 shares during the quarter. Glenmede Trust Co. NA owned 0.37% of Southwest Airlines worth $144,038,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its holdings in shares of Southwest Airlines by 28.5% during the 4th quarter. Macquarie Group Ltd. now owns 286,475 shares of the airline’s stock valued at $23,513,000 after acquiring an additional 63,459 shares during the last quarter. Vident Investment Advisory LLC boosted its holdings in shares of Southwest Airlines by 6.5% during the 4th quarter. Vident Investment Advisory LLC now owns 48,923 shares of the airline’s stock valued at $3,202,000 after acquiring an additional 2,993 shares during the last quarter. Lido Advisors LLC purchased a new stake in shares of Southwest Airlines during the 4th quarter valued at about $343,000. Verition Fund Management LLC purchased a new stake in shares of Southwest Airlines during the 4th quarter valued at about $765,000. Finally, LPL Financial LLC boosted its holdings in shares of Southwest Airlines by 4.2% during the 4th quarter. LPL Financial LLC now owns 66,180 shares of the airline’s stock valued at $4,331,000 after acquiring an additional 2,658 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.
A number of brokerages have recently issued reports on LUV. Bank of America downgraded shares of Southwest Airlines from a “buy” rating to a “neutral” rating and set a $73.00 price target on the stock. in a report on Tuesday, January 9th. Vetr raised shares of Southwest Airlines from a “strong sell” rating to a “sell” rating and set a $60.23 price target on the stock in a report on Tuesday, December 26th. Stephens reaffirmed a “buy” rating and set a $75.00 price target on shares of Southwest Airlines in a report on Thursday, March 29th. Atlantic Securities raised shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $48.71 to $71.00 in a report on Thursday, December 14th. Finally, Zacks Investment Research downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. Southwest Airlines has a consensus rating of “Buy” and an average price target of $70.60.
Shares of NYSE:LUV opened at $55.29 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.45. Southwest Airlines has a 1-year low of $49.76 and a 1-year high of $66.99. The company has a market cap of $33,430.89, a price-to-earnings ratio of 15.80, a PEG ratio of 1.44 and a beta of 1.14.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, January 25th. The airline reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01. Southwest Airlines had a net margin of 16.48% and a return on equity of 23.43%. The business had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. equities research analysts predict that Southwest Airlines will post 4.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.90%. The ex-dividend date was Tuesday, March 6th. Southwest Airlines’s dividend payout ratio is currently 14.29%.
In other Southwest Airlines news, CFO Tammy Romo sold 20,272 shares of Southwest Airlines stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.95, for a total transaction of $1,174,762.40. Following the transaction, the chief financial officer now owns 114,962 shares of the company’s stock, valued at $6,662,047.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Dr Cunningham purchased 3,500 shares of the stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $56.25 per share, for a total transaction of $196,875.00. Following the acquisition, the director now directly owns 70,469 shares of the company’s stock, valued at $3,963,881.25. The disclosure for this purchase can be found here. Insiders have sold 108,473 shares of company stock worth $6,296,091 in the last ninety days. Insiders own 0.21% of the company’s stock.
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About Southwest Airlines
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, Turks, and Chaos.
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