Whirlpool Co. (NYSE:WHR) Shares Sold by Commerce Bank

Commerce Bank cut its holdings in Whirlpool Co. (NYSE:WHR) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 39,370 shares of the company’s stock after selling 3,548 shares during the period. Commerce Bank’s holdings in Whirlpool were worth $4,213,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC purchased a new stake in Whirlpool in the 3rd quarter valued at about $214,000. PNC Financial Services Group Inc. increased its position in Whirlpool by 2.1% during the third quarter. PNC Financial Services Group Inc. now owns 50,987 shares of the company’s stock worth $5,456,000 after purchasing an additional 1,042 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Whirlpool by 379.4% during the third quarter. Meeder Asset Management Inc. now owns 47,776 shares of the company’s stock worth $5,112,000 after purchasing an additional 37,811 shares during the period. Quest Partners LLC boosted its holdings in shares of Whirlpool by 78,200.0% in the 3rd quarter. Quest Partners LLC now owns 783 shares of the company’s stock valued at $84,000 after purchasing an additional 782 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of Whirlpool by 335.2% during the 3rd quarter. Huntington National Bank now owns 3,125 shares of the company’s stock valued at $334,000 after buying an additional 2,407 shares during the period. 90.78% of the stock is currently owned by institutional investors and hedge funds.

Whirlpool Price Performance

WHR stock opened at $112.43 on Friday. The firm has a market cap of $6.20 billion, a P/E ratio of 11.09 and a beta of 1.44. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.55 and a current ratio of 0.94. Whirlpool Co. has a 1 year low of $84.18 and a 1 year high of $125.68. The stock has a 50-day simple moving average of $105.69 and a 200-day simple moving average of $99.63.

Whirlpool (NYSE:WHR) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.44. Whirlpool had a net margin of 3.19% and a return on equity of 21.41%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter last year, the company earned $5.45 earnings per share. Whirlpool’s revenue for the quarter was down 18.9% on a year-over-year basis. On average, equities analysts predict that Whirlpool Co. will post 12.27 earnings per share for the current fiscal year.

Whirlpool Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Friday, November 15th will be given a $1.75 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $7.00 dividend on an annualized basis and a yield of 6.23%. Whirlpool’s payout ratio is currently 69.03%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WHR. Royal Bank of Canada cut their target price on Whirlpool from $76.00 to $74.00 and set an “underperform” rating on the stock in a research report on Friday, October 25th. Bank of America increased their target price on shares of Whirlpool from $101.00 to $103.00 and gave the stock an “underperform” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Whirlpool from $103.00 to $109.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $106.50.

Insider Transactions at Whirlpool

In other news, EVP Juan Carlos Puente sold 3,266 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $100.00, for a total transaction of $326,600.00. Following the completion of the sale, the executive vice president now owns 19,070 shares of the company’s stock, valued at approximately $1,907,000. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James W. Peters sold 6,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $104.48, for a total transaction of $626,880.00. Following the completion of the sale, the chief financial officer now directly owns 41,570 shares in the company, valued at $4,343,233.60. This represents a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.05% of the company’s stock.

Whirlpool Profile

Whirlpool Corporation manufactures and markets home appliances and related products and services in the North America, Europe, the Middle East, Africa, Latin America, and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances, and commercial laundry products and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.