Southwest Airlines Co (LUV) Shares Sold by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. reduced its stake in shares of Southwest Airlines Co (NYSE:LUV) by 1.5% during the 4th quarter, HoldingsChannel reports. The fund owned 474,714 shares of the airline’s stock after selling 7,381 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Southwest Airlines were worth $31,070,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of LUV. BB&T Investment Services Inc. grew its holdings in shares of Southwest Airlines by 325.5% during the 3rd quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock valued at $110,000 after acquiring an additional 1,211 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Southwest Airlines by 365.0% during the 3rd quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock valued at $134,000 after acquiring an additional 1,880 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Southwest Airlines by 580.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,607 shares of the airline’s stock valued at $170,000 after acquiring an additional 2,224 shares in the last quarter. Asset Dedication LLC purchased a new position in shares of Southwest Airlines during the 4th quarter valued at $191,000. Finally, Smith Moore & CO. purchased a new position in shares of Southwest Airlines during the 3rd quarter valued at $206,000. Institutional investors and hedge funds own 78.51% of the company’s stock.
Several equities analysts have recently commented on LUV shares. Zacks Investment Research upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Deutsche Bank restated a “buy” rating and set a $71.00 price target on shares of Southwest Airlines in a report on Friday, October 27th. Stifel Nicolaus restated a “buy” rating and set a $85.00 price target (up from $80.00) on shares of Southwest Airlines in a report on Wednesday, January 10th. Vetr upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $65.81 price target on the stock in a report on Monday, January 1st. Finally, Cowen restated an “outperform” rating and set a $64.00 price target (up from $62.00) on shares of Southwest Airlines in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $67.93.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. The firm had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.29 billion. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. research analysts forecast that Southwest Airlines Co will post 3.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Thursday, December 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Wednesday, December 6th. Southwest Airlines’s dividend payout ratio is 14.33%.
In other Southwest Airlines news, Director John T. Montford sold 1,695 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $63.27, for a total transaction of $107,242.65. Following the completion of the transaction, the director now owns 23,098 shares of the company’s stock, valued at approximately $1,461,410.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert E. Jordan sold 32,931 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $64.38, for a total transaction of $2,120,097.78. Following the transaction, the executive vice president now directly owns 76,993 shares of the company’s stock, valued at approximately $4,956,809.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,561 shares of company stock valued at $2,277,774. Company insiders own 0.21% of the company’s stock.
Southwest Airlines 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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