Arrow Financial Corp reduced its stake in Southwest Airlines Company (NYSE:LUV) by 17.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,052 shares of the airline’s stock after selling 11,435 shares during the period. Arrow Financial Corp’s holdings in Southwest Airlines were worth $3,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. raised its position in Southwest Airlines by 52.6% in the fourth quarter. Macquarie Group Ltd. now owns 313,743 shares of the airline’s stock valued at $15,637,000 after buying an additional 108,212 shares during the period. Gulf International Bank UK Ltd raised its position in Southwest Airlines by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 50,407 shares of the airline’s stock valued at $2,709,000 after buying an additional 680 shares during the period. Koshinski Asset Management Inc. acquired a new position in Southwest Airlines during the first quarter valued at about $246,000. Quadrant Capital Group LLC raised its position in Southwest Airlines by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 3,488 shares of the airline’s stock valued at $184,000 after buying an additional 16 shares during the period. Finally, E&G Advisors LP raised its position in Southwest Airlines by 2.0% in the first quarter. E&G Advisors LP now owns 5,100 shares of the airline’s stock valued at $274,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 80.58% of the company’s stock.

Southwest Airlines Company (NYSE:LUV) traded up 0.04% during midday trading on Friday, hitting $53.17. 6,061,487 shares of the company traded hands. Southwest Airlines Company has a 12-month low of $36.05 and a 12-month high of $64.39. The firm has a market capitalization of $31.83 billion, a PE ratio of 16.30 and a beta of 1.26. The stock’s 50-day moving average is $58.49 and its 200-day moving average is $57.27.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the firm posted $1.19 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Analysts anticipate that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.

Southwest Airlines announced that its board has initiated a share repurchase program on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the airline to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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LUV has been the topic of several recent research reports. Imperial Capital lifted their price target on shares of Southwest Airlines from $63.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Cowen and Company lifted their price objective on shares of Southwest Airlines from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Deutsche Bank AG lifted their price objective on shares of Southwest Airlines from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Scotiabank reiterated a “sector perform” rating on shares of Southwest Airlines in a research report on Thursday, May 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $80.00 price objective on shares of Southwest Airlines in a research report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.66.

In related news, Director William H. Dr Cunningham bought 4,500 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $54.00 per share, for a total transaction of $243,000.00. Following the purchase, the director now owns 66,969 shares in the company, valued at approximately $3,616,326. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tammy Romo sold 8,322 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $59.15, for a total transaction of $492,246.30. Following the sale, the chief financial officer now owns 87,387 shares of the company’s stock, valued at approximately $5,168,941.05. The disclosure for this sale can be found here. In the last three months, insiders sold 47,218 shares of company stock valued at $2,838,204. Insiders own 0.21% of the company’s stock.

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.

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

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