Southwest Airlines Company (LUV) Shares Sold by Tillar Wenstrup Advisors LLC
Tillar Wenstrup Advisors LLC decreased its stake in Southwest Airlines Company (NYSE:LUV) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,421 shares of the airline’s stock after selling 1,776 shares during the period. Southwest Airlines accounts for 2.2% of Tillar Wenstrup Advisors LLC’s holdings, making the stock its 17th largest position. Tillar Wenstrup Advisors LLC’s holdings in Southwest Airlines were worth $2,822,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. National Pension Service acquired a new stake in shares of Southwest Airlines during the second quarter valued at $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 valued at $128,000 after buying an additional 15 shares during the period. 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 valued at $135,000 after buying an additional 154 shares during the period. 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 valued at $164,000 after buying an additional 75 shares during the period. 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 valued at $152,000 after buying an additional 1,328 shares during the period. 80.34% of the stock is currently owned by institutional investors and hedge funds.
Southwest Airlines Company (NYSE LUV) opened at 56.58 on Monday. The stock has a market capitalization of $33.87 billion, a P/E ratio of 17.35 and a beta of 1.26. Southwest Airlines Company has a 52 week low of $35.43 and a 52 week high of $64.39. The firm has a 50 day moving average price of $60.75 and a 200 day moving average price of $57.04.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 EPS. Equities research analysts predict that Southwest Airlines Company will post $3.80 earnings per share for the current year.
Southwest Airlines announced that its board has approved a stock repurchase plan on Wednesday, May 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the airline to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Tuesday, August 22nd. Southwest Airlines’s payout ratio is 15.34%.
Several brokerages have recently weighed in on LUV. Zacks Investment Research lowered Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Cowen and Company reaffirmed a “buy” rating and set a $67.00 price target on shares of Southwest Airlines in a research report on Friday, July 28th. Vetr raised Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $64.53 price target on the stock in a research report on Thursday, July 27th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $70.00 price target on shares of Southwest Airlines in a research report on Thursday, July 13th. Finally, BidaskClub lowered Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $65.78.
In related news, COO De Ven Michael G. Van sold 15,273 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $57.14, for a total value of $872,699.22. Following the sale, the chief operating officer now directly owns 182,302 shares in the company, valued at approximately $10,416,736.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Gary C. Kelly sold 51,000 shares of the firm’s stock in a transaction that occurred on 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 owns 556,808 shares in the company, valued at $31,771,464.48. The disclosure for this sale can be found here. Insiders have sold a total of 118,740 shares of company stock worth $6,923,568 over the last quarter. 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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