Montgomery Investment Management Inc. boosted its stake in shares of Southwest Airlines Company (NYSE:LUV) by 78.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,900 shares of the airline’s stock after purchasing an additional 2,600 shares during the period. Montgomery Investment Management Inc.’s holdings in Southwest Airlines were worth $330,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. BlackRock Inc. increased its stake in Southwest Airlines by 4,163.3% during the first quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock worth $1,880,703,000 after acquiring an additional 34,162,752 shares during the last quarter. Boston Partners purchased a new position in shares of Southwest Airlines during the second quarter valued at approximately $153,454,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Southwest Airlines by 8,363.9% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,852,840 shares of the airline’s stock valued at $99,609,000 after buying an additional 1,830,949 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of Southwest Airlines by 35.6% during the second quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock valued at $257,901,000 after buying an additional 1,090,189 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Southwest Airlines by 13.1% during the second quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock valued at $549,016,000 after buying an additional 1,026,892 shares during the period. 80.15% of the stock is currently owned by institutional investors and hedge funds.
LUV has been the subject of a number of research reports. Wolfe Research upgraded Southwest Airlines from a “market perform” rating to an “outperform” rating in a report on Friday, August 18th. Vetr lowered Southwest Airlines from a “buy” rating to a “hold” rating and set a $59.16 price target for the company. in a report on Wednesday, October 4th. BidaskClub lowered Southwest Airlines from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Barclays PLC restated a “hold” rating and set a $61.00 target price on shares of Southwest Airlines in a report on Thursday, September 14th. Finally, Morgan Stanley set a $64.00 target price on Southwest Airlines and gave the stock a “buy” rating in a report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $67.00.
In other news, Director John T. Montford sold 935 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total transaction of $50,433.90. Following the completion of the sale, the director now owns 25,000 shares in the company, valued at approximately $1,348,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is owned by company insiders.
Shares of Southwest Airlines Company (NYSE LUV) opened at $53.75 on Wednesday. The company has a market cap of $31,850.00, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.31. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.46. Southwest Airlines Company has a 1-year low of $44.70 and a 1-year high of $64.39.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.29 billion. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. Southwest Airlines’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. equities research analysts expect that Southwest Airlines Company will post 3.56 earnings per share for the current year.
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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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