Russell Investments Group Ltd. trimmed its position in Southwest Airlines Co (NYSE:LUV) by 38.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 553,244 shares of the airline’s stock after selling 345,968 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Southwest Airlines worth $28,133,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Boston Partners lifted its holdings in shares of Southwest Airlines by 5.2% in the 2nd quarter. Boston Partners now owns 8,927,411 shares of the airline’s stock worth $454,227,000 after buying an additional 443,918 shares during the period. Bank of Montreal Can raised its position in shares of Southwest Airlines by 9.3% in the 2nd quarter. Bank of Montreal Can now owns 5,832,599 shares of the airline’s stock worth $296,764,000 after acquiring an additional 494,484 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Southwest Airlines by 2.7% in the 1st quarter. Thrivent Financial for Lutherans now owns 4,651,542 shares of the airline’s stock worth $266,441,000 after acquiring an additional 122,372 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Southwest Airlines in the 1st quarter worth $207,785,000. Finally, Wells Fargo & Company MN raised its position in shares of Southwest Airlines by 12.2% in the 2nd quarter. Wells Fargo & Company MN now owns 3,324,336 shares of the airline’s stock worth $169,142,000 after acquiring an additional 360,539 shares in the last quarter. Institutional investors and hedge funds own 77.15% of the company’s stock.

In related news, Director John T. Montford sold 430 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $58.27, for a total transaction of $25,056.10. Following the transaction, the director now directly owns 23,853 shares of the company’s stock, valued at approximately $1,389,914.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark R. Shaw sold 4,910 shares of the company’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $58.35, for a total value of $286,498.50. Following the transaction, the senior vice president now directly owns 11,546 shares in the company, valued at $673,709.10. The disclosure for this sale can be found here. Insiders have sold a total of 11,470 shares of company stock worth $674,941 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on the company. Cowen reduced their price target on Southwest Airlines from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, June 4th. Buckingham Research reduced their price target on Southwest Airlines from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, June 13th. Morgan Stanley reissued a “buy” rating on shares of Southwest Airlines in a research report on Tuesday, August 14th. ValuEngine raised Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Citigroup reduced their price target on Southwest Airlines from $67.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, May 29th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Southwest Airlines currently has an average rating of “Buy” and an average price target of $66.93.

Shares of NYSE:LUV opened at $60.99 on Friday. Southwest Airlines Co has a 1 year low of $49.76 and a 1 year high of $66.99. The stock has a market cap of $34.73 billion, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 1.22 and a beta of 1.15. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.48.

Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, July 26th. The airline reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.03. Southwest Airlines had a return on equity of 22.16% and a net margin of 16.90%. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same period in the prior year, the company posted $1.24 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. research analysts expect that Southwest Airlines Co will post 4.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Wednesday, August 22nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.05%. The ex-dividend date is Tuesday, August 21st. Southwest Airlines’s dividend payout ratio is currently 18.29%.

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.

Read More: Technical Analysis of Stocks, How Can It Help

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.