Robeco Institutional Asset Management B.V. trimmed its stake in shares of Southwest Airlines Co (NYSE:LUV) by 20.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,877 shares of the airline’s stock after selling 4,526 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Southwest Airlines were worth $1,117,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norman Fields Gottscho Capital Management LLC grew its stake in Southwest Airlines by 1.9% during the 3rd quarter. Norman Fields Gottscho Capital Management LLC now owns 45,180 shares of the airline’s stock worth $2,821,000 after purchasing an additional 855 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Southwest Airlines by 19.0% during the 2nd quarter. AE Wealth Management LLC now owns 5,432 shares of the airline’s stock worth $276,000 after acquiring an additional 869 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of Southwest Airlines by 11.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 8,674 shares of the airline’s stock worth $542,000 after acquiring an additional 888 shares in the last quarter. Lucia Wealth Services LLC boosted its position in shares of Southwest Airlines by 22.7% during the 2nd quarter. Lucia Wealth Services LLC now owns 4,854 shares of the airline’s stock worth $247,000 after acquiring an additional 898 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Southwest Airlines by 0.4% during the 2nd quarter. CIBC Asset Management Inc now owns 228,478 shares of the airline’s stock worth $11,625,000 after acquiring an additional 956 shares in the last quarter. 78.45% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Goldman Sachs Group assumed coverage on Southwest Airlines in a research report on Monday, November 12th. They set a “neutral” rating and a $61.00 price objective for the company. Imperial Capital lowered their price objective on Southwest Airlines from $66.00 to $56.00 and set an “in-line” rating for the company in a research report on Friday, October 26th. Morgan Stanley reaffirmed a “buy” rating on shares of Southwest Airlines in a research report on Tuesday, August 14th. Buckingham Research upped their price objective on Southwest Airlines from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Finally, ValuEngine raised Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Southwest Airlines presently has an average rating of “Buy” and an average target price of $65.65.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, October 25th. The airline reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.56 billion. Southwest Airlines had a return on equity of 22.27% and a net margin of 17.18%. During the same period in the prior year, the firm earned $0.88 EPS. As a group, research analysts forecast that Southwest Airlines Co will post 4.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th will be given a $0.16 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.21%. Southwest Airlines’s dividend payout ratio (DPR) is presently 18.29%.
In related news, Director John T. Montford sold 956 shares of the company’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $52.35, for a total value of $50,046.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.
Southwest Airlines Company Profile
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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