Greenleaf Trust bought a new position in Southwest Airlines Co (NYSE:LUV) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 4,084 shares of the airline’s stock, valued at approximately $255,000.
A number of other hedge funds have also recently modified their holdings of the stock. Norman Fields Gottscho Capital Management LLC lifted its position in Southwest Airlines by 1.9% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 45,180 shares of the airline’s stock worth $2,821,000 after purchasing an additional 855 shares during the period. AE Wealth Management LLC lifted its position in Southwest Airlines by 19.0% in the second quarter. AE Wealth Management LLC now owns 5,432 shares of the airline’s stock worth $276,000 after purchasing an additional 869 shares during the period. IFM Investors Pty Ltd lifted its position in Southwest Airlines by 11.4% in the third quarter. IFM Investors Pty Ltd now owns 8,674 shares of the airline’s stock worth $542,000 after purchasing an additional 888 shares during the period. Lucia Wealth Services LLC lifted its position in Southwest Airlines by 22.7% in the second quarter. Lucia Wealth Services LLC now owns 4,854 shares of the airline’s stock worth $247,000 after purchasing an additional 898 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Southwest Airlines by 0.4% in the second quarter. CIBC Asset Management Inc now owns 228,478 shares of the airline’s stock worth $11,625,000 after purchasing an additional 956 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Andrew M. Watterson sold 6,130 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $59.28, for a total value of $363,386.40. Following the completion of the sale, the executive vice president now directly owns 16,597 shares in the company, valued at $983,870.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John T. Montford sold 430 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $58.27, for a total value of $25,056.10. Following the completion of the sale, the director now owns 23,853 shares of the company’s stock, valued at $1,389,914.31. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Several research analysts recently commented on LUV shares. Imperial Capital raised their target price on Southwest Airlines from $54.00 to $60.00 and gave the stock an “inline” rating in a research report on Wednesday, August 22nd. Buckingham Research reduced their target price on Southwest Airlines from $73.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Zacks Investment Research lowered Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Morgan Stanley set a $68.00 price objective on Southwest Airlines and gave the stock a “buy” rating in a research note on Friday, October 5th. Finally, Macquarie set a $67.00 price objective on Southwest Airlines and gave the stock a “buy” rating in a research note on Monday, October 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $66.78.
Shares of NYSE:LUV opened at $51.82 on Friday. Southwest Airlines Co has a twelve month low of $47.10 and a twelve month high of $66.99. The firm has a market capitalization of $29.14 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.65.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, October 25th. The airline reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. Southwest Airlines had a return on equity of 22.27% and a net margin of 17.18%. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period last year, the company posted $0.88 earnings per share. Equities analysts anticipate that Southwest Airlines Co will post 4.12 earnings per share for the current year.
Southwest Airlines Profile
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, and Turks and Caicos.
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