Pitcairn Co. Cuts Position in Southwest Airlines Company (LUV)

Pitcairn Co. cut its position in shares of Southwest Airlines Company (NYSE:LUV) by 4.2% during the fourth quarter, Holdings Channel reports. The fund owned 5,790 shares of the airline’s stock after selling 252 shares during the period. Pitcairn Co.’s holdings in Southwest Airlines Company were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. RDL Financial Inc. boosted its position in shares of Southwest Airlines Company by 1.9% in the second quarter. RDL Financial Inc. now owns 32,174 shares of the airline’s stock worth $1,262,000 after buying an additional 598 shares during the last quarter. Glendon Capital Management LP boosted its position in shares of Southwest Airlines Company by 241.3% in the second quarter. Glendon Capital Management LP now owns 191,128 shares of the airline’s stock worth $7,494,000 after buying an additional 135,128 shares during the last quarter. Lee Danner & Bass Inc. boosted its position in shares of Southwest Airlines Company by 12.2% in the second quarter. Lee Danner & Bass Inc. now owns 79,929 shares of the airline’s stock worth $3,134,000 after buying an additional 8,700 shares during the last quarter. Buckingham Asset Management LLC boosted its position in shares of Southwest Airlines Company by 2.4% in the second quarter. Buckingham Asset Management LLC now owns 6,506 shares of the airline’s stock worth $255,000 after buying an additional 150 shares during the last quarter. Finally, Shelton Capital Management boosted its position in shares of Southwest Airlines Company by 25.7% in the second quarter. Shelton Capital Management now owns 32,514 shares of the airline’s stock worth $1,275,000 after buying an additional 6,652 shares during the last quarter. Institutional investors own 76.70% of the company’s stock.

Institutional Ownership by Quarter for Southwest Airlines Company (NYSE:LUV)

Southwest Airlines Company (NYSE:LUV) traded down 0.93% during trading on Tuesday, reaching $55.21. The company’s stock had a trading volume of 1,110,391 shares. The company has a 50-day moving average of $51.59 and a 200 day moving average of $43.75. Southwest Airlines Company has a one year low of $35.09 and a one year high of $56.31. The firm has a market cap of $33.97 billion, a PE ratio of 15.56 and a beta of 0.88.

Southwest Airlines Company (NYSE:LUV) last posted its earnings results on Thursday, January 26th. The airline reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. The company earned $5.10 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Southwest Airlines Company had a net margin of 10.97% and a return on equity of 29.79%. Southwest Airlines Company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. Analysts expect that Southwest Airlines Company will post $3.88 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 9th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 7th. This represents a $0.40 annualized dividend and a yield of 0.72%. Southwest Airlines Company’s payout ratio is 11.33%.

This piece was published by sleekmoney and is the sole property of of sleekmoney. If you are reading this piece on another publication, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The legal version of this piece can be accessed at http://sleekmoney.com/pitcairn-co-cuts-position-in-southwest-airlines-company-luv/1660204.html.

Several research analysts recently issued reports on the company. Vetr lowered Southwest Airlines Company from a “strong-buy” rating to a “buy” rating and set a $58.14 target price for the company. in a research report on Thursday, January 26th. Cowen and Company raised their target price on Southwest Airlines Company from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. Imperial Capital raised their target price on Southwest Airlines Company from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. Morgan Stanley raised Southwest Airlines Company from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $45.00 to $55.00 in a research report on Thursday, January 5th. Finally, Zacks Investment Research raised Southwest Airlines Company from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Tuesday, January 17th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $55.46.

In related news, CFO Tammy Romo sold 9,655 shares of the firm’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $51.79, for a total transaction of $500,032.45. Following the completion of the transaction, the chief financial officer now directly owns 77,937 shares of the company’s stock, valued at $4,036,357.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Montford sold 510 shares of the firm’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $50.93, for a total transaction of $25,974.30. Following the transaction, the director now directly owns 23,715 shares of the company’s stock, valued at $1,207,804.95. The disclosure for this sale can be found here. Insiders have sold 24,699 shares of company stock valued at $1,225,092 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

About Southwest Airlines Company

Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.

5 Day Chart for NYSE:LUV

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 Company (NYSE:LUV).

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/pitcairn-co-cuts-position-in-southwest-airlines-company-luv/1660204.html

Receive News & Ratings for Southwest Airlines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Company and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *