Principal Financial Group Inc. Lowers Position in Whirlpool Co. (NYSE:WHR)

Principal Financial Group Inc. lessened its holdings in Whirlpool Co. (NYSE:WHR) by 6.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,729 shares of the company’s stock after selling 5,941 shares during the period. Principal Financial Group Inc.’s holdings in Whirlpool were worth $16,500,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Comerica Bank raised its position in shares of Whirlpool by 9.5% in the second quarter. Comerica Bank now owns 22,586 shares of the company’s stock worth $3,318,000 after buying an additional 1,963 shares in the last quarter. Trust Co. of Oklahoma purchased a new stake in shares of Whirlpool in the third quarter worth $453,000. National Asset Management Inc. purchased a new stake in shares of Whirlpool in the second quarter worth $246,000. NN Investment Partners Holdings N.V. increased its stake in Whirlpool by 13.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 7,162 shares of the company’s stock valued at $928,000 after acquiring an additional 873 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Whirlpool by 45.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,060 shares of the company’s stock valued at $1,303,000 after acquiring an additional 3,144 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Shares of NYSE:WHR opened at $192.91 on Friday. The stock’s 50-day moving average price is $193.79 and its 200-day moving average price is $159.60. Whirlpool Co. has a 12-month low of $64.00 and a 12-month high of $207.30. The stock has a market capitalization of $12.07 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 0.90 and a beta of 2.01. The company has a current ratio of 0.98, a quick ratio of 0.71 and a debt-to-equity ratio of 1.24.

Whirlpool (NYSE:WHR) last posted its earnings results on Wednesday, October 21st. The company reported $6.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 in the previous year, the firm earned $3.97 EPS. As a group, research analysts predict that Whirlpool Co. will post 13.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 20th will be paid a $1.25 dividend. The ex-dividend date is Thursday, November 19th. This is a boost from Whirlpool’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 2.59%. Whirlpool’s dividend payout ratio (DPR) is presently 30.00%.

In related news, CEO Marc R. Bitzer sold 39,836 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $200.45, for a total value of $7,985,126.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher S. Conley sold 292 shares of the firm’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $195.97, for a total value of $57,223.24. Following the completion of the sale, the vice president now directly owns 1,140 shares in the company, valued at $223,405.80. The disclosure for this sale can be found here. Insiders sold 43,067 shares of company stock worth $8,610,368 over the last three months. 1.20% of the stock is owned by insiders.

A number of research analysts recently commented on WHR shares. TheStreet raised Whirlpool from a “c+” rating to a “b” rating in a research note on Wednesday, October 21st. Raymond James reissued a “hold” rating on shares of Whirlpool in a research note on Thursday, August 6th. ValuEngine cut Whirlpool from a “sell” rating to a “strong sell” rating in a research note on Friday, October 30th. Zacks Investment Research cut Whirlpool from a “buy” rating to a “hold” rating and set a $190.00 target price on the stock. in a research note on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. increased their target price on Whirlpool from $192.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $183.88.

About Whirlpool

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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Institutional Ownership by Quarter for Whirlpool (NYSE:WHR)

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