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

Commerce Bank cut its stake in Whirlpool Co. (NYSE:WHR) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,370 shares of the company’s stock after selling 3,548 shares during the period. Commerce Bank owned about 0.07% of Whirlpool worth $4,213,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp purchased a new position in shares of Whirlpool during the second quarter worth about $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in Whirlpool during the 2nd quarter worth approximately $32,000. Altshuler Shaham Ltd acquired a new stake in Whirlpool during the 2nd quarter worth approximately $32,000. EverSource Wealth Advisors LLC increased its holdings in shares of Whirlpool by 1,010.5% in the second quarter. EverSource Wealth Advisors LLC now owns 422 shares of the company’s stock valued at $43,000 after purchasing an additional 384 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Whirlpool by 80.6% during the second quarter. UMB Bank n.a. now owns 428 shares of the company’s stock worth $44,000 after purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 90.78% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Whirlpool from $76.00 to $74.00 and set an “underperform” rating on the stock in a research note on Friday, October 25th. Bank of America boosted their price target on shares of Whirlpool from $101.00 to $103.00 and gave the stock an “underperform” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their price objective 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 investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Whirlpool has an average rating of “Hold” and a consensus target price of $106.50.

Whirlpool Stock Performance

NYSE:WHR opened at $112.43 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.94 and a debt-to-equity ratio of 1.94. Whirlpool Co. has a fifty-two week low of $84.18 and a fifty-two week high of $125.68. The firm’s fifty day simple moving average is $105.69 and its 200-day simple moving average is $99.63. The stock has a market cap of $6.20 billion, a PE ratio of 11.09 and a beta of 1.44.

Whirlpool (NYSE:WHR) last issued its earnings results on Wednesday, October 23rd. The company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.44. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.09 billion. Whirlpool had a net margin of 3.19% and a return on equity of 21.41%. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same period last year, the company posted $5.45 earnings per share. Analysts expect that Whirlpool Co. will post 12.27 earnings per share for the current fiscal year.

Whirlpool Dividend Announcement

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

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.