Whirlpool (NYSE:WHR) Given New $74.00 Price Target at Royal Bank of Canada

Whirlpool (NYSE:WHR) had its target price reduced by Royal Bank of Canada from $76.00 to $74.00 in a report issued on Friday, Benzinga reports. They currently have an underperform rating on the stock.

Separately, Bank of America upped their target price on shares of Whirlpool from $101.00 to $103.00 and gave the company an “underperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Whirlpool presently has an average rating of “Hold” and a consensus price target of $107.00.

Whirlpool Stock Down 0.3 %

Shares of Whirlpool stock opened at $103.73 on Friday. The company has a 50-day simple moving average of $102.00 and a two-hundred day simple moving average of $98.67. The stock has a market capitalization of $5.72 billion, a PE ratio of 10.23 and a beta of 1.44. Whirlpool has a 52-week low of $84.18 and a 52-week high of $125.68. 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 (NYSE:WHR) last released 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 return on equity of 21.41% and a net margin of 3.19%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the firm posted $5.45 EPS. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. On average, analysts anticipate that Whirlpool will post 12 EPS for the current fiscal year.

Whirlpool Announces Dividend

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 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date of this dividend is Friday, November 15th. Whirlpool’s dividend payout ratio is 69.03%.

Insiders Place Their Bets

In related 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 value of $326,600.00. Following the transaction, the executive vice president now owns 19,070 shares of the company’s stock, valued at approximately $1,907,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.05% of the company’s stock.

Hedge Funds Weigh In On Whirlpool

Several institutional investors and hedge funds have recently bought and sold shares of WHR. SouthState Corp purchased a new position in shares of Whirlpool during the 2nd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC bought a new stake in Whirlpool during the 2nd quarter worth approximately $32,000. Altshuler Shaham Ltd bought a new position in shares of Whirlpool in the second quarter worth approximately $32,000. EverSource Wealth Advisors LLC increased its stake 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 worth $43,000 after purchasing an additional 384 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Whirlpool by 80.6% during the 2nd quarter. UMB Bank n.a. now owns 428 shares of the company’s stock valued at $44,000 after purchasing an additional 191 shares during the period. 90.78% of the stock is currently owned by hedge funds and other institutional investors.

About Whirlpool

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.