Stocks: Trust Investment Advisors Sells 5,250 Shares of Southwest Airlines Co (LUV)

Stocks: Trust Investment Advisors Sells 5,250 Shares of Southwest Airlines Co (LUV)

Trust Investment Advisors reduced its stake in Southwest Airlines Co (NYSE:LUV) by 35.5% during the first quarter, Holdings Channel reports. The fund owned 9,526 shares of the airline’s stock after selling 5,250 shares during the period. Trust Investment Advisors’ holdings in Southwest Airlines were worth $512,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in LUV. State Street Corp raised its position in Southwest Airlines by 0.6% in the fourth quarter. State Street Corp now owns 23,126,598 shares of the airline’s stock valued at $1,152,643,000 after buying an additional 141,834 shares during the period. Bank of Montreal Can raised its position in Southwest Airlines by 6.3% in the first quarter. Bank of Montreal Can now owns 6,230,147 shares of the airline’s stock valued at $334,934,000 after buying an additional 367,801 shares during the period. APG Asset Management N.V. raised its position in Southwest Airlines by 10.1% in the first quarter. APG Asset Management N.V. now owns 4,037,493 shares of the airline’s stock valued at $217,056,000 after buying an additional 370,954 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in Southwest Airlines by 1.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,414,303 shares of the airline’s stock valued at $170,169,000 after buying an additional 50,958 shares during the period. Finally, Putnam Investments LLC raised its position in Southwest Airlines by 180.6% in the fourth quarter. Putnam Investments LLC now owns 2,739,400 shares of the airline’s stock valued at $136,532,000 after buying an additional 1,763,174 shares during the period. 76.70% of the stock is owned by institutional investors.

Shares of Southwest Airlines Co (NYSE:LUV) traded down 1.109% during mid-day trading on Friday, hitting $57.446. 1,353,562 shares of the stock were exchanged. The company’s 50-day moving average is $55.27 and its 200-day moving average is $51.53. The firm has a market cap of $34.74 billion, a price-to-earnings ratio of 17.230 and a beta of 0.88. Southwest Airlines Co has a 1-year low of $35.42 and a 1-year high of $59.68.

Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, April 27th. The airline reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.01. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.91 billion. Southwest Airlines had a net margin of 10.97% and a return on equity of 29.79%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. Equities research analysts anticipate that Southwest Airlines Co will post $3.82 earnings per share for the current fiscal year.

Several research analysts have recently commented on the stock. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $57.21 price target for the company in a report on Monday, March 13th. Cowen and Company lifted their price target on shares of Southwest Airlines from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Southwest Airlines in a report on Friday, March 3rd. Scotiabank reaffirmed a “sector perform” rating on shares of Southwest Airlines in a report on Thursday, May 4th. Finally, Imperial Capital lifted their price target on shares of Southwest Airlines from $63.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Southwest Airlines currently has an average rating of “Buy” and an average price target of $55.25.

In other news, COO De Ven Michael G. Van sold 14,572 shares of the firm’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $57.72, for a total value of $841,095.84. Following the transaction, the chief operating officer now owns 214,084 shares of the company’s stock, valued at approximately $12,356,928.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gary C. Kelly sold 21,300 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $57.25, for a total transaction of $1,219,425.00. Following the completion of the transaction, the chairman now directly owns 619,456 shares in the company, valued at approximately $35,463,856. The disclosure for this sale can be found here. Insiders sold a total of 72,626 shares of company stock worth $4,194,287 in the last ninety days. Insiders own 0.18% 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.

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