Gofen & Glossberg LLC IL raised its holdings in Southwest Airlines Co (NYSE:LUV) by 53.1% in the 3rd quarter, Holdings Channel reports. The firm owned 10,548 shares of the airline’s stock after purchasing an additional 3,658 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Southwest Airlines were worth $659,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Vigilant Capital Management LLC raised its position in shares of Southwest Airlines by 2.6% during the third quarter. Vigilant Capital Management LLC now owns 247,618 shares of the airline’s stock worth $15,464,000 after acquiring an additional 6,220 shares during the last quarter. CHICAGO TRUST Co NA bought a new stake in shares of Southwest Airlines during the third quarter worth $202,000. Lourd Capital LLC bought a new stake in shares of Southwest Airlines during the third quarter worth $513,000. E&G Advisors LP bought a new stake in shares of Southwest Airlines during the third quarter worth $219,000. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of Southwest Airlines during the third quarter worth $231,000. Hedge funds and other institutional investors own 77.99% of the company’s stock.
Shares of Southwest Airlines stock opened at $57.38 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.48. Southwest Airlines Co has a 12 month low of $49.93 and a 12 month high of $66.99. The firm has a market cap of $35.79 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.24 and a beta of 1.06.
In related news, Director John T. Montford sold 430 shares of Southwest Airlines stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $58.27, for a total transaction of $25,056.10. Following the completion of the sale, the director now directly owns 23,853 shares of the company’s stock, valued at $1,389,914.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew M. Watterson sold 6,130 shares of Southwest Airlines stock in a transaction on Friday, August 17th. The stock was sold at an average price of $59.28, for a total value of $363,386.40. Following the sale, the executive vice president now directly owns 16,597 shares of the company’s stock, valued at $983,870.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,470 shares of company stock valued at $674,941. 0.23% of the stock is owned by insiders.
A number of equities research analysts have recently weighed in on LUV shares. Argus downgraded Southwest Airlines from a “buy” rating to a “hold” rating and dropped their target price for the stock from $66.99 to $49.76 in a research report on Friday, June 15th. Zacks Investment Research upgraded Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Barclays dropped their target price on Southwest Airlines from $74.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, July 16th. ValuEngine upgraded Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Cowen boosted their target price on Southwest Airlines from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $69.30.
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.
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