Jaffetilchin Investment Partners LLC bought a new stake in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, Holdings Channel reports. The institutional investor bought 7,679 shares of the airline’s stock, valued at approximately $477,000.

Other large investors have also recently made changes to their positions in the company. Retirement Systems of Alabama boosted its position in Southwest Airlines by 0.9% in the first quarter. Retirement Systems of Alabama now owns 617,404 shares of the airline’s stock worth $33,192,000 after buying an additional 5,626 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Southwest Airlines during the first quarter worth about $1,113,000. Rothschild Investment Corp IL boosted its position in Southwest Airlines by 3.8% in the first quarter. Rothschild Investment Corp IL now owns 4,524 shares of the airline’s stock worth $243,000 after buying an additional 167 shares in the last quarter. Huntington National Bank boosted its position in Southwest Airlines by 53.7% in the first quarter. Huntington National Bank now owns 6,847 shares of the airline’s stock worth $368,000 after buying an additional 2,392 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in Southwest Airlines during the first quarter worth about $466,000. Institutional investors own 80.58% of the company’s stock.

Shares of Southwest Airlines Company (NYSE LUV) opened at 55.20 on Wednesday. Southwest Airlines Company has a 12 month low of $36.05 and a 12 month high of $64.39. The stock has a 50 day moving average of $59.17 and a 200 day moving average of $57.31. The firm has a market cap of $33.04 billion, a price-to-earnings ratio of 16.93 and a beta of 1.26.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.04. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 EPS. On average, equities research analysts expect that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be issued a $0.125 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.91%. Southwest Airlines’s dividend payout ratio is presently 15.34%.

Southwest Airlines announced that its Board of Directors has approved a share buyback plan on Wednesday, May 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the airline to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: This news story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/08/16/jaffetilchin-investment-partners-llc-buys-shares-of-7679-southwest-airlines-company-luv.html.

A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Sunday, July 30th. Cowen and Company reaffirmed a “buy” rating and issued a $67.00 price target on shares of Southwest Airlines in a report on Friday, July 28th. Vetr raised shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $64.53 price target for the company in a report on Thursday, July 27th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Southwest Airlines in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.78.

In related news, COO De Ven Michael G. Van sold 15,273 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $57.14, for a total value of $872,699.22. Following the sale, the chief operating officer now directly owns 182,302 shares of the company’s stock, valued at approximately $10,416,736.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William H. Dr Cunningham acquired 4,500 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the completion of the purchase, the director now owns 66,969 shares in the company, valued at approximately $3,616,326. The disclosure for this purchase can be found here. Insiders sold a total of 67,740 shares of company stock valued at $4,013,508 in the last quarter. Insiders own 0.21% of the company’s stock.

About Southwest Airlines

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.

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).

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

Receive News & Stock 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 stocks with our FREE daily email newsletter.