First Mercantile Trust Co. lowered its stake in Southwest Airlines Co (NYSE:LUV) by 24.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,905 shares of the airline’s stock after selling 2,256 shares during the quarter. First Mercantile Trust Co.’s holdings in Southwest Airlines were worth $373,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in LUV. Sterling Investment Advisors Ltd. purchased a new stake in Southwest Airlines in the 3rd quarter worth $26,000. Smithfield Trust Co. lifted its stake in Southwest Airlines by 130.4% in the 3rd quarter. Smithfield Trust Co. now owns 530 shares of the airline’s stock worth $28,000 after purchasing an additional 300 shares in the last quarter. Hudock Capital Group LLC lifted its stake in Southwest Airlines by 596.4% in the 3rd quarter. Hudock Capital Group LLC now owns 585 shares of the airline’s stock worth $31,000 after purchasing an additional 501 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in Southwest Airlines by 242.8% in the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 713 shares of the airline’s stock worth $36,000 after purchasing an additional 505 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its stake in Southwest Airlines by 40.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 700 shares of the airline’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 81.78% of the company’s stock.
Several analysts have commented on LUV shares. Credit Suisse Group boosted their price target on shares of Southwest Airlines from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Stifel Nicolaus cut shares of Southwest Airlines from a “buy” rating to a “hold” rating and decreased their price target for the stock from $75.00 to $60.00 in a research note on Monday, October 21st. Zacks Investment Research upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $59.00 price target on the stock in a research note on Monday, September 16th. Berenberg Bank initiated coverage on shares of Southwest Airlines in a report on Friday, September 6th. They issued a “hold” rating and a $57.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Southwest Airlines in a report on Thursday, October 31st. They issued a “neutral” rating and a $59.00 target price on the stock. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Southwest Airlines presently has a consensus rating of “Hold” and a consensus target price of $58.95.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, October 24th. The airline reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. The firm had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.65 billion. Southwest Airlines had a net margin of 10.90% and a return on equity of 24.71%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. As a group, sell-side analysts expect that Southwest Airlines Co will post 4.38 earnings per share for the current fiscal year.
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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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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