Harel Insurance Investments & Financial Services Ltd. Acquires 1,000 Shares of Southwest Airlines Company (NYSE:LUV)
Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Southwest Airlines Company (NYSE:LUV) by 15.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,570 shares of the airline’s stock after buying an additional 1,000 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Southwest Airlines were worth $470,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of LUV. Vanguard Group Inc. increased its stake in Southwest Airlines by 0.7% in the first quarter. Vanguard Group Inc. now owns 38,498,787 shares of the airline’s stock worth $2,069,695,000 after buying an additional 286,456 shares in the last quarter. BlackRock Inc. increased its stake in Southwest Airlines by 4,163.3% in the first quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock worth $1,880,703,000 after buying an additional 34,162,752 shares in the last quarter. State Street Corp increased its stake in Southwest Airlines by 1.5% in the first quarter. State Street Corp now owns 23,480,558 shares of the airline’s stock worth $1,262,308,000 after buying an additional 353,960 shares in the last quarter. Egerton Capital UK LLP increased its stake in Southwest Airlines by 39.0% in the first quarter. Egerton Capital UK LLP now owns 9,401,341 shares of the airline’s stock worth $505,416,000 after buying an additional 2,638,743 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Southwest Airlines by 80.3% in the first quarter. Ameriprise Financial Inc. now owns 7,809,175 shares of the airline’s stock worth $419,796,000 after buying an additional 3,477,912 shares in the last quarter. 80.34% of the stock is owned by hedge funds and other institutional investors.
Southwest Airlines Company (NYSE LUV) opened at 54.69 on Thursday. The firm has a market capitalization of $32.74 billion, a PE ratio of 16.77 and a beta of 1.26. The company’s 50-day moving average is $59.97 and its 200-day moving average is $57.17. Southwest Airlines Company has a 52-week low of $36.05 and a 52-week high of $64.39.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same period in the previous year, the business posted $1.19 earnings per share. Southwest Airlines’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts forecast that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.
Southwest Airlines announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the airline to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.50 annualized dividend and a yield of 0.91%. Southwest Airlines’s payout ratio is presently 15.34%.
LUV has been the subject of several analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $70.00 target price on shares of Southwest Airlines in a research report on Thursday, July 13th. BidaskClub cut shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Vetr upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 target price for the company in a research report on Tuesday, June 27th. Finally, ValuEngine upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $65.78.
In other Southwest Airlines news, COO De Ven Michael G. Van sold 15,273 shares of Southwest Airlines stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $57.14, for a total transaction of $872,699.22. Following the completion of the sale, the chief operating officer now directly owns 182,302 shares in the company, valued at $10,416,736.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Gary C. Kelly sold 51,000 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $57.06, for a total transaction of $2,910,060.00. Following the sale, the chairman now owns 556,808 shares of the company’s stock, valued at $31,771,464.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,740 shares of company stock valued at $6,923,568. 0.21% of the stock is currently owned by company insiders.
Southwest Airlines Company 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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