Commerce Bank boosted its position in shares of Southwest Airlines Co (NYSE:LUV) by 10.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,119 shares of the airline’s stock after purchasing an additional 1,945 shares during the period. Commerce Bank’s holdings in Southwest Airlines were worth $1,319,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. ACG Wealth lifted its holdings in Southwest Airlines by 18.6% during the 3rd quarter. ACG Wealth now owns 45,188 shares of the airline’s stock valued at $2,822,000 after purchasing an additional 7,098 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in Southwest Airlines by 3,172.6% during the 2nd quarter. Salem Investment Counselors Inc. now owns 22,843 shares of the airline’s stock valued at $1,162,000 after purchasing an additional 22,145 shares during the last quarter. Wills Financial Group Inc. bought a new position in shares of Southwest Airlines in the second quarter worth about $1,222,000. Independent Advisor Alliance bought a new position in shares of Southwest Airlines in the second quarter worth about $366,000. Finally, CSat Investment Advisory L.P. bought a new position in shares of Southwest Airlines in the second quarter worth about $1,177,000. 78.03% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Andrew M. Watterson sold 6,130 shares of Southwest Airlines stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $59.28, for a total transaction of $363,386.40. Following the completion of the sale, the executive vice president now owns 16,597 shares in the company, valued at approximately $983,870.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.
Shares of NYSE:LUV opened at $52.49 on Friday. Southwest Airlines Co has a one year low of $47.10 and a one year high of $66.99. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The company has a market cap of $29.16 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.13 and a beta of 1.22.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, October 25th. The airline reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. Southwest Airlines had a net margin of 17.18% and a return on equity of 22.27%. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter in the previous year, the company earned $0.88 EPS. As a group, equities research analysts forecast that Southwest Airlines Co will post 4.12 earnings per share for the current fiscal year.
LUV has been the subject of a number of research analyst reports. ValuEngine raised shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Macquarie set a $71.00 target price on shares of Southwest Airlines and gave the stock a “buy” rating in a research note on Monday, September 17th. Buckingham Research boosted their target price on shares of Southwest Airlines from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Argus raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Friday, September 7th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Southwest Airlines in a research note on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $66.78.
About Southwest Airlines
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.
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