Southwest Airlines Company (LUV) Stake Boosted by State Street Corp
State Street Corp boosted its position in shares of Southwest Airlines Company (NYSE:LUV) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,126,598 shares of the airline’s stock after buying an additional 141,834 shares during the period. State Street Corp’s holdings in Southwest Airlines Company were worth $1,152,643,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of LUV. Hanson McClain Inc. raised its stake in Southwest Airlines Company by 2.9% in the second quarter. Hanson McClain Inc. now owns 2,653 shares of the airline’s stock worth $104,000 after buying an additional 75 shares in the last quarter. Washington Trust Bank raised its stake in Southwest Airlines Company by 6.9% in the third quarter. Washington Trust Bank now owns 2,704 shares of the airline’s stock worth $105,000 after buying an additional 174 shares in the last quarter. Cavalier Investments LLC purchased a new stake in Southwest Airlines Company during the fourth quarter worth approximately $206,000. Cadence Bank NA purchased a new stake in Southwest Airlines Company during the fourth quarter worth approximately $211,000. Finally, SRB Corp raised its stake in Southwest Airlines Company by 28.9% in the third quarter. SRB Corp now owns 4,296 shares of the airline’s stock worth $167,000 after buying an additional 962 shares in the last quarter. Institutional investors own 76.70% of the company’s stock.
Shares of Southwest Airlines Company (NYSE:LUV) opened at 56.34 on Friday. The stock has a 50 day moving average of $52.08 and a 200-day moving average of $44.07. The stock has a market capitalization of $34.66 billion, a P/E ratio of 15.88 and a beta of 0.88. Southwest Airlines Company has a 52-week low of $35.42 and a 52-week high of $58.06.
Southwest Airlines Company (NYSE:LUV) last posted its earnings results on Thursday, January 26th. The airline reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Southwest Airlines Company had a net margin of 10.97% and a return on equity of 29.79%. The firm earned $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the firm posted $0.90 earnings per share. Southwest Airlines Company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts predict that Southwest Airlines Company will post $3.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 9th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, March 7th. Southwest Airlines Company’s dividend payout ratio (DPR) is presently 11.33%.
“Southwest Airlines Company (LUV) Stake Boosted by State Street Corp” was published by Daily Political and is owned by of Daily Political. If you are viewing this story on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The correct version of this story can be accessed at http://www.dailypolitical.com/2017/02/17/southwest-airlines-company-luv-stake-boosted-by-state-street-corp.html.
A number of equities research analysts recently commented on the stock. Vetr lowered shares of Southwest Airlines Company from a “buy” rating to a “hold” rating and set a $58.51 price target for the company. in a report on Thursday. Cowen and Company reiterated an “outperform” rating and set a $55.00 price target (up from $44.00) on shares of Southwest Airlines Company in a report on Friday, January 6th. Citigroup Inc. reiterated a “buy” rating on shares of Southwest Airlines Company in a report on Tuesday, December 6th. Morgan Stanley upgraded shares of Southwest Airlines Company from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $45.00 to $55.00 in a report on Thursday, January 5th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $63.00 price target (up from $50.00) on shares of Southwest Airlines Company in a report on Wednesday, December 21st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.48.
In related news, EVP Jeff Lamb sold 14,534 shares of the firm’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $48.10, for a total value of $699,085.40. Following the completion of the transaction, the executive vice president now directly owns 117,188 shares of the company’s stock, valued at $5,636,742.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Tammy Romo sold 9,655 shares of the firm’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $51.79, for a total transaction of $500,032.45. Following the completion of the transaction, the chief financial officer now directly owns 77,937 shares of the company’s stock, valued at $4,036,357.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,699 shares of company stock valued at $1,225,092. 0.18% of the stock is currently owned by insiders.
Southwest Airlines Company Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Company (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Company and related companies with MarketBeat.com's FREE daily email newsletter.