Oregon Public Employees Retirement Fund raised its position in shares of Southwest Airlines Co (NYSE:LUV) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,004 shares of the airline’s stock after acquiring an additional 1,385 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Southwest Airlines were worth $12,365,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. ACG Wealth boosted its holdings in Southwest Airlines by 18.6% during the third quarter. ACG Wealth now owns 45,188 shares of the airline’s stock valued at $2,822,000 after acquiring an additional 7,098 shares during the period. Salem Investment Counselors Inc. boosted its holdings in Southwest Airlines by 3,172.6% during the second quarter. Salem Investment Counselors Inc. now owns 22,843 shares of the airline’s stock valued at $1,162,000 after acquiring an additional 22,145 shares during the period. Wills Financial Group Inc. bought a new stake in Southwest Airlines during the second quarter valued at about $1,222,000. Independent Advisor Alliance bought a new stake in Southwest Airlines during the second quarter valued at about $366,000. Finally, CSat Investment Advisory L.P. bought a new stake in Southwest Airlines during the second quarter valued at about $1,177,000. Institutional investors own 77.98% of the company’s stock.
In related news, EVP Andrew M. Watterson sold 6,130 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $59.28, for a total value of $363,386.40. Following the completion of the transaction, the executive vice president now owns 16,597 shares of the company’s stock, valued at $983,870.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Montford sold 430 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $58.27, for a total transaction of $25,056.10. Following the completion of the transaction, the director now directly owns 23,853 shares of the company’s stock, valued at approximately $1,389,914.31. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.56 billion. Southwest Airlines had a net margin of 17.18% and a return on equity of 22.27%. During the same quarter in the prior year, the business earned $0.88 earnings per share. Equities analysts predict that Southwest Airlines Co will post 4.11 EPS for the current year.
A number of research firms have issued reports on LUV. Stephens set a $69.00 price target on shares of Southwest Airlines and gave the company a “buy” rating in a report on Friday, July 27th. Buckingham Research upped their price target on shares of Southwest Airlines from $66.00 to $69.00 and gave the company a “buy” rating in a report on Friday, July 27th. Imperial Capital upped their price target on shares of Southwest Airlines from $54.00 to $60.00 and gave the company an “inline” rating in a report on Wednesday, August 22nd. Morgan Stanley restated a “buy” rating on shares of Southwest Airlines in a report on Tuesday, August 14th. Finally, Cowen upped their price target on shares of Southwest Airlines from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus 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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