Raymond James & Associates Lowers Position in Whirlpool Co. (NYSE:WHR)

Raymond James & Associates cut its stake in Whirlpool Co. (NYSE:WHR) by 28.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,308 shares of the company’s stock after selling 17,610 shares during the period. Raymond James & Associates owned 0.08% of Whirlpool worth $4,426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Clear Harbor Asset Management LLC purchased a new stake in Whirlpool in the second quarter worth about $214,000. Crestmont Private Wealth LLC bought a new position in shares of Whirlpool during the second quarter valued at approximately $202,000. SG Americas Securities LLC increased its stake in shares of Whirlpool by 33.3% during the second quarter. SG Americas Securities LLC now owns 2,725 shares of the company’s stock valued at $278,000 after purchasing an additional 681 shares in the last quarter. Kwmg LLC increased its stake in shares of Whirlpool by 29.6% during the second quarter. Kwmg LLC now owns 44,020 shares of the company’s stock valued at $4,499,000 after purchasing an additional 10,055 shares in the last quarter. Finally, Gilman Hill Asset Management LLC increased its stake in shares of Whirlpool by 3.1% during the second quarter. Gilman Hill Asset Management LLC now owns 82,684 shares of the company’s stock valued at $8,450,000 after purchasing an additional 2,460 shares in the last quarter. 90.78% of the stock is currently owned by hedge funds and other institutional investors.

Whirlpool Price Performance

Shares of WHR opened at $102.45 on Friday. The company has a market capitalization of $5.60 billion, a P/E ratio of 14.11 and a beta of 1.44. The company has a quick ratio of 0.58, a current ratio of 0.96 and a debt-to-equity ratio of 1.88. The firm has a 50 day moving average of $99.94 and a 200 day moving average of $101.16. Whirlpool Co. has a twelve month low of $84.18 and a twelve month high of $142.52.

Whirlpool (NYSE:WHR) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.39 earnings per share for the quarter, meeting the consensus estimate of $2.39. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.96 billion. Whirlpool had a net margin of 2.89% and a return on equity of 27.67%. The firm’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.21 earnings per share. As a group, equities research analysts anticipate that Whirlpool Co. will post 11.31 earnings per share for the current fiscal year.

Whirlpool Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Friday, August 30th will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date of this dividend is Friday, August 30th. Whirlpool’s dividend payout ratio (DPR) is presently 96.42%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WHR. Royal Bank of Canada decreased their target price on shares of Whirlpool from $79.00 to $76.00 and set an “underperform” rating for the company in a research note on Friday, July 26th. Bank of America began coverage on shares of Whirlpool in a research note on Tuesday, July 30th. They set an “underperform” rating and a $88.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $103.75.

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.