Total Investment Management Inc. maintained its stake in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,795 shares of the airline’s stock at the end of the second quarter. Southwest Airlines makes up about 0.2% of Total Investment Management Inc.’s portfolio, making the stock its 22nd largest position. Total Investment Management Inc.’s holdings in Southwest Airlines were worth $609,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. National Pension Service purchased a new position in shares of Southwest Airlines during the second quarter worth $141,000. Guardian Life Insurance Co. of America raised its stake in shares of Southwest Airlines by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock worth $128,000 after buying an additional 15 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Southwest Airlines by 6.6% in the first quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock worth $135,000 after buying an additional 154 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Southwest Airlines by 2.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,632 shares of the airline’s stock worth $164,000 after buying an additional 75 shares in the last quarter. Finally, TrimTabs Asset Management LLC raised its stake in shares of Southwest Airlines by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,821 shares of the airline’s stock worth $152,000 after buying an additional 1,328 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.
Shares of Southwest Airlines Company (NYSE:LUV) traded up 0.24% during midday trading on Friday, reaching $54.14. 4,232,572 shares of the company’s stock traded hands. Southwest Airlines Company has a 1-year low of $36.05 and a 1-year high of $64.39. The stock has a market capitalization of $32.41 billion, a P/E ratio of 16.60 and a beta of 1.26. The firm’s 50-day moving average price is $59.56 and its 200 day moving average price is $57.18.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts predict that Southwest Airlines Company will post $3.80 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.92%. The ex-dividend date is Tuesday, August 22nd. Southwest Airlines’s payout ratio is currently 15.34%.
Southwest Airlines announced that its board has initiated a stock buyback program on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the airline to buy up to 5.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
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A number of equities research analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $66.00 target price (up from $65.00) on shares of Southwest Airlines in a research note on Monday, July 10th. Wolfe Research lowered Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $63.00 price objective for the company. in a research note on Monday, July 10th. They noted that the move was a valuation call. BidaskClub lowered Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, July 4th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $70.00 price objective on shares of Southwest Airlines in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.78.
In other Southwest Airlines news, Chairman Gary C. Kelly sold 51,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $57.06, for a total value of $2,910,060.00. Following the completion of the sale, the chairman now directly owns 556,808 shares of the company’s stock, valued at approximately $31,771,464.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tammy Romo sold 8,322 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $59.15, for a total transaction of $492,246.30. Following the completion of the sale, the chief financial officer now directly owns 87,387 shares of the company’s stock, valued at $5,168,941.05. The disclosure for this sale can be found here. Insiders sold 118,740 shares of company stock valued at $6,923,568 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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