Financial Gravity Companies Inc. purchased a new position in shares of Southwest Airlines Co (NYSE:LUV) in the fourth quarter, Holdings Channel reports. The firm purchased 1,062 shares of the airline’s stock, valued at approximately $61,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dorsey & Whitney Trust CO LLC lifted its holdings in Southwest Airlines by 4.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,590 shares of the airline’s stock worth $259,000 after buying an additional 231 shares during the last quarter. Fulton Bank N.A. increased its position in shares of Southwest Airlines by 0.8% during the fourth quarter. Fulton Bank N.A. now owns 29,372 shares of the airline’s stock worth $1,366,000 after purchasing an additional 237 shares in the last quarter. Cornerstone Advisors Inc. increased its position in shares of Southwest Airlines by 6.8% during the third quarter. Cornerstone Advisors Inc. now owns 4,572 shares of the airline’s stock worth $286,000 after purchasing an additional 292 shares in the last quarter. ETF Managers Group LLC increased its position in shares of Southwest Airlines by 15.7% during the fourth quarter. ETF Managers Group LLC now owns 2,274 shares of the airline’s stock worth $106,000 after purchasing an additional 309 shares in the last quarter. Finally, Moody National Bank Trust Division increased its position in shares of Southwest Airlines by 4.1% during the fourth quarter. Moody National Bank Trust Division now owns 8,331 shares of the airline’s stock worth $387,000 after purchasing an additional 331 shares in the last quarter. 80.69% of the stock is owned by institutional investors.
LUV has been the topic of a number of research analyst reports. Imperial Capital reiterated an “in-line” rating and set a $52.00 target price (down previously from $57.00) on shares of Southwest Airlines in a research report on Wednesday, January 9th. JPMorgan Chase & Co. cut Southwest Airlines from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $63.00 to $52.00 in a research report on Tuesday, October 30th. Raymond James cut their target price on Southwest Airlines from $68.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Citigroup lifted their target price on Southwest Airlines from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, November 29th. Finally, Susquehanna Bancshares initiated coverage on Southwest Airlines in a research report on Wednesday, November 28th. They set a “neutral” rating and a $56.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Southwest Airlines currently has an average rating of “Buy” and a consensus price target of $62.22.
In related news, Director John T. Montford sold 980 shares of the business’s stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $51.27, for a total value of $50,244.60. Following the transaction, the director now owns 20,983 shares in the company, valued at approximately $1,075,798.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Montford sold 956 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $52.35, for a total value of $50,046.60. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
Shares of LUV stock opened at $58.28 on Tuesday. The stock has a market capitalization of $32.14 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.89 and a beta of 1.54. Southwest Airlines Co has a 52-week low of $44.28 and a 52-week high of $64.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.58 and a current ratio of 0.64.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, January 24th. The airline reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.11. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.68 billion. Southwest Airlines had a return on equity of 24.56% and a net margin of 11.22%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. As a group, equities research analysts forecast that Southwest Airlines Co will post 5.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, March 5th. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.09%.
About Southwest Airlines
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.
Read More: Do You Need a Fiduciary?
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 Co (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.