Principal Financial Group Inc. lowered its position in shares of Whirlpool Co. (NYSE:WHR) by 6.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,729 shares of the company’s stock after selling 5,941 shares during the period. Principal Financial Group Inc. owned about 0.14% of Whirlpool worth $16,500,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Comerica Bank lifted its holdings in Whirlpool by 9.5% during the 2nd quarter. Comerica Bank now owns 22,586 shares of the company’s stock worth $3,318,000 after buying an additional 1,963 shares during the period. Trust Co. of Oklahoma acquired a new position in Whirlpool during the 3rd quarter worth about $453,000. National Asset Management Inc. acquired a new position in Whirlpool during the 2nd quarter worth about $246,000. NN Investment Partners Holdings N.V. lifted its holdings in Whirlpool by 13.9% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 7,162 shares of the company’s stock worth $928,000 after buying an additional 873 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Whirlpool by 45.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,060 shares of the company’s stock worth $1,303,000 after buying an additional 3,144 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.
Shares of NYSE:WHR opened at $192.91 on Friday. Whirlpool Co. has a 1 year low of $64.00 and a 1 year high of $207.30. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 0.90 and a beta of 2.01. The business’s 50-day moving average is $193.79 and its 200-day moving average is $159.60. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.98 and a quick ratio of 0.71.
Whirlpool (NYSE:WHR) last issued its earnings results on Wednesday, October 21st. The company reported $6.91 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $3.41. Whirlpool had a return on equity of 22.08% and a net margin of 4.42%. During the same period last year, the business posted $3.97 earnings per share. Analysts anticipate that Whirlpool Co. will post 13.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 20th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.59%. This is a positive change from Whirlpool’s previous quarterly dividend of $1.20. The ex-dividend date is Thursday, November 19th. Whirlpool’s payout ratio is presently 30.00%.
Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Whirlpool from $192.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lifted their target price on Whirlpool from $153.00 to $199.00 and gave the stock a “hold” rating in a report on Friday, October 23rd. ValuEngine downgraded Whirlpool from a “sell” rating to a “strong sell” rating in a report on Friday, October 30th. TheStreet raised Whirlpool from a “c+” rating to a “b” rating in a research note on Wednesday, October 21st. Finally, Royal Bank of Canada raised Whirlpool from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $163.00 to $183.00 in a research note on Friday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Whirlpool has a consensus rating of “Hold” and an average price target of $183.88.
In other Whirlpool news, CEO Marc R. Bitzer sold 39,836 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $200.45, for a total transaction of $7,985,126.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher S. Conley sold 292 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $195.97, for a total value of $57,223.24. Following the sale, the vice president now directly owns 1,140 shares of the company’s stock, valued at $223,405.80. The disclosure for this sale can be found here. Insiders sold a total of 43,067 shares of company stock valued at $8,610,368 over the last ninety days. 1.20% of the stock is currently owned by corporate insiders.
Whirlpool Corporation manufactures and markets home appliances and related products. It operates through four segments: North America; Europe, Middle East and Africa; Latin America; and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.
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