Peapack Gladstone Financial Corp increased its position in Southwest Airlines Company (NYSE:LUV) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,277 shares of the airline’s stock after acquiring an additional 104 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Southwest Airlines were worth $266,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in LUV. Hartline Investment Corp increased its holdings in Southwest Airlines by 5.0% in the 1st quarter. Hartline Investment Corp now owns 19,997 shares of the airline’s stock worth $1,075,000 after acquiring an additional 950 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Southwest Airlines by 158.3% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 972,781 shares of the airline’s stock worth $52,297,000 after acquiring an additional 596,167 shares during the last quarter. Stifel Financial Corp increased its holdings in Southwest Airlines by 19.0% in the 1st quarter. Stifel Financial Corp now owns 108,461 shares of the airline’s stock worth $5,831,000 after acquiring an additional 17,353 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Southwest Airlines by 31.7% in the 1st quarter. Victory Capital Management Inc. now owns 115,243 shares of the airline’s stock worth $6,195,000 after acquiring an additional 27,731 shares during the last quarter. Finally, Atlantic Trust Group LLC increased its holdings in Southwest Airlines by 7.4% in the 1st quarter. Atlantic Trust Group LLC now owns 30,001 shares of the airline’s stock worth $1,612,000 after acquiring an additional 2,070 shares during the last quarter. 79.42% of the stock is owned by institutional investors.
Shares of Southwest Airlines Company (NYSE LUV) traded up 0.26% during mid-day trading on Friday, hitting $58.44. The stock had a trading volume of 3,984,212 shares. Southwest Airlines Company has a 12 month low of $36.91 and a 12 month high of $64.39. The company has a market cap of $34.98 billion, a PE ratio of 17.92 and a beta of 1.32. The stock’s 50-day moving average is $54.10 and its 200 day moving average is $56.92.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter last year, the business posted $1.19 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. On average, equities research analysts forecast that Southwest Airlines Company will post $3.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 24th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio is currently 15.34%.
Several brokerages recently weighed in on LUV. 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 report on Monday, July 10th. They noted that the move was a valuation call. Morgan Stanley reissued an “overweight” rating and issued a $66.00 price objective (up previously from $65.00) on shares of Southwest Airlines in a report on Monday, July 10th. BidaskClub lowered Southwest Airlines from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, July 4th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $70.00 price objective on shares of Southwest Airlines in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Southwest Airlines currently has an average rating of “Buy” and a consensus target price of $66.95.
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In other Southwest Airlines news, Director William H. Dr Cunningham bought 4,500 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $54.00 per share, for a total transaction of $243,000.00. Following the completion of the transaction, the director now owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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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