IBM Retirement Fund lessened its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,223 shares of the airline’s stock after selling 1,936 shares during the quarter. IBM Retirement Fund’s holdings in Southwest Airlines were worth $520,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Boston Partners raised its position in Southwest Airlines by 5.2% during the second quarter. Boston Partners now owns 8,927,411 shares of the airline’s stock valued at $454,227,000 after acquiring an additional 443,918 shares in the last quarter. Bank of Montreal Can raised its position in Southwest Airlines by 9.3% during the second quarter. Bank of Montreal Can now owns 5,832,599 shares of the airline’s stock valued at $296,764,000 after acquiring an additional 494,484 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Southwest Airlines by 2.7% during the first quarter. Thrivent Financial for Lutherans now owns 4,651,542 shares of the airline’s stock valued at $266,441,000 after acquiring an additional 122,372 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Southwest Airlines by 9.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,637,579 shares of the airline’s stock valued at $185,076,000 after acquiring an additional 328,453 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in Southwest Airlines during the first quarter valued at approximately $207,785,000. 78.15% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on LUV shares. Stephens set a $69.00 price objective on shares of Southwest Airlines and gave the company a “buy” rating in a research report on Friday, July 27th. Buckingham Research raised their price objective on shares of Southwest Airlines from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Edward Jones raised shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. Deutsche Bank cut their price objective on shares of Southwest Airlines from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Monday, June 11th. Finally, Citigroup cut their price objective on shares of Southwest Airlines from $67.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, May 29th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Southwest Airlines has an average rating of “Buy” and a consensus target price of $68.45.

Shares of LUV stock opened at $61.90 on Friday. Southwest Airlines Co has a 12 month low of $49.93 and a 12 month high of $66.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.64 and a current ratio of 0.70. The company has a market cap of $34.97 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.20 and a beta of 1.10.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 26th. The airline reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Southwest Airlines had a return on equity of 22.16% and a net margin of 16.90%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter last year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. sell-side analysts anticipate that Southwest Airlines Co will post 4.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 12th. Shareholders of record on Wednesday, August 22nd will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, August 21st. This represents a $0.64 annualized dividend and a yield of 1.03%. Southwest Airlines’s dividend payout ratio (DPR) is presently 18.29%.

In other news, 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 sale, the director now owns 23,853 shares in the company, valued at $1,389,914.31. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mark R. Shaw sold 4,910 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $58.35, for a total transaction of $286,498.50. Following the completion of the sale, the senior vice president now owns 11,546 shares in the company, valued at approximately $673,709.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,470 shares of company stock worth $674,941. Corporate insiders own 0.23% of the company’s stock.

Southwest Airlines Company 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.

Further Reading: Leveraged Buyout (LBO) Explained

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

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