Whirlpool Corp. (WHR) Stake Lowered by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. decreased its position in Whirlpool Corp. (NYSE:WHR) by 9.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,440 shares of the company’s stock after selling 14,026 shares during the period. PNC Financial Services Group Inc. owned about 0.18% of Whirlpool Corp. worth $22,125,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Kanaly Trust Co increased its stake in Whirlpool Corp. by 0.3% in the second quarter. Kanaly Trust Co now owns 1,147 shares of the company’s stock worth $191,000 after buying an additional 4 shares during the period. Advisor Partners LLC increased its stake in Whirlpool Corp. by 0.5% in the second quarter. Advisor Partners LLC now owns 1,515 shares of the company’s stock worth $252,000 after buying an additional 8 shares during the period. Bollard Group LLC increased its stake in Whirlpool Corp. by 0.6% in the second quarter. Bollard Group LLC now owns 2,121 shares of the company’s stock worth $353,000 after buying an additional 12 shares during the period. Savant Capital LLC increased its stake in Whirlpool Corp. by 0.7% in the third quarter. Savant Capital LLC now owns 2,690 shares of the company’s stock worth $436,000 after buying an additional 20 shares during the period. Finally, Norinchukin Bank The increased its stake in Whirlpool Corp. by 0.6% in the second quarter. Norinchukin Bank The now owns 3,985 shares of the company’s stock worth $664,000 after buying an additional 22 shares during the period. Institutional investors own 89.98% of the company’s stock.
Whirlpool Corp. (NYSE:WHR) traded down 0.29% during mid-day trading on Tuesday, hitting $162.16. 146,272 shares of the company were exchanged. The stock has a market cap of $12.18 billion, a P/E ratio of 14.18 and a beta of 1.94. The company has a 50 day moving average of $159.77 and a 200 day moving average of $171.05. Whirlpool Corp. has a 12-month low of $123.60 and a 12-month high of $194.10.
Whirlpool Corp. (NYSE:WHR) last posted its earnings results on Tuesday, October 25th. The company reported $3.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.88 by $0.22. Whirlpool Corp. had a return on equity of 18.64% and a net margin of 4.31%. The firm earned $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the company posted $3.45 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts expect that Whirlpool Corp. will post $14.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 18th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Wednesday, November 16th. Whirlpool Corp.’s payout ratio is 34.93%.
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A number of research firms have commented on WHR. MKM Partners downgraded shares of Whirlpool Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $215.00 to $176.00 in a research report on Monday, October 17th. Zacks Investment Research upgraded shares of Whirlpool Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 26th. Gabelli downgraded shares of Whirlpool Corp. from a “buy” rating to a “hold” rating in a report on Monday, September 12th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $182.00 target price on shares of Whirlpool Corp. in a report on Thursday, October 27th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $189.86.
In other news, insider David T. Szczupak sold 10,307 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $181.33, for a total value of $1,868,968.31. Following the sale, the insider now owns 4,807 shares of the company’s stock, valued at approximately $871,653.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.62% of the stock is currently owned by insiders.
About Whirlpool Corp.
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company manufactures products in approximately 15 countries and markets products around the world under brand names, such as Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air and Indesit. The Company’s segments include North America, Latin America, EMEA (Europe, Middle East and Africa) and Asia.
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