Financial Gravity Companies Inc. Purchases Shares of 1,062 Southwest Airlines Co (LUV)

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%.

TRADEMARK VIOLATION WARNING: “Financial Gravity Companies Inc. Purchases Shares of 1,062 Southwest Airlines Co (LUV)” was first published by Transcript Daily and is the property of of Transcript Daily. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this report can be viewed at https://transcriptdaily.com/2019/02/12/financial-gravity-companies-inc-purchases-shares-of-1062-southwest-airlines-co-luv.html.

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).

Institutional Ownership by Quarter for Southwest Airlines (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.

Leave a Reply