Montgomery Investment Management Inc. bought a new position in Southwest Airlines Company (NYSE:LUV) during the second quarter, Holdings Channel reports. The firm bought 3,300 shares of the airline’s stock, valued at approximately $205,000.

A number of other institutional investors also recently made changes to their positions in LUV. Macquarie Group Ltd. increased its stake in Southwest Airlines by 52.6% in the fourth quarter. Macquarie Group Ltd. now owns 313,743 shares of the airline’s stock worth $15,637,000 after buying an additional 108,212 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Southwest Airlines by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 50,407 shares of the airline’s stock worth $2,709,000 after buying an additional 680 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in Southwest Airlines during the first quarter worth $246,000. Quadrant Capital Group LLC increased its stake in Southwest Airlines by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 3,488 shares of the airline’s stock worth $184,000 after buying an additional 16 shares in the last quarter. Finally, E&G Advisors LP increased its stake in Southwest Airlines by 2.0% in the first quarter. E&G Advisors LP now owns 5,100 shares of the airline’s stock worth $274,000 after buying an additional 100 shares in the last quarter. 80.34% of the stock is currently owned by institutional investors and hedge funds.

Shares of Southwest Airlines Company (NYSE LUV) opened at 54.69 on Thursday. The company’s 50-day moving average price is $59.97 and its 200-day moving average price is $57.17. The company has a market capitalization of $32.74 billion, a PE ratio of 16.77 and a beta of 1.26. Southwest Airlines Company has a 1-year low of $36.05 and a 1-year high of $64.39.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.04. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 earnings per share. On average, equities analysts expect that Southwest Airlines Company will post $3.80 earnings per share for the current fiscal year.

Southwest Airlines announced that its board has initiated a share repurchase plan on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the airline to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a $0.125 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.50 annualized dividend and a yield of 0.91%. Southwest Airlines’s dividend payout ratio is currently 15.34%.

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LUV has been the topic of several recent analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $70.00 target price on shares of Southwest Airlines in a research note on Thursday, July 13th. BidaskClub downgraded shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Vetr upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 target price on the stock in a research note on Tuesday, June 27th. Finally, ValuEngine upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $65.78.

In other news, SVP Mark R. Shaw sold 3,823 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $59.13, for a total transaction of $226,053.99. Following the transaction, the senior vice president now owns 7,784 shares of the company’s stock, valued at approximately $460,267.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tammy Romo sold 8,322 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $59.15, for a total value of $492,246.30. Following the transaction, the chief financial officer now directly owns 87,387 shares in the company, valued at approximately $5,168,941.05. The disclosure for this sale can be found here. In the last three months, insiders sold 118,740 shares of company stock worth $6,923,568. Insiders own 0.21% of the company’s stock.

Southwest Airlines Company Profile

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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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