Whirlpool (NYSE:WHR) Stock Price Up 9.5% – Here’s What Happened

Shares of Whirlpool Co. (NYSE:WHR) traded up 9.5% during mid-day trading on Monday . The stock traded as high as $124.40 and last traded at $123.57. 593,862 shares were traded during trading, a decline of 48% from the average session volume of 1,136,491 shares. The stock had previously closed at $112.82.

Analysts Set New Price Targets

Several research firms have recently issued reports on WHR. Bank of America boosted their target price on Whirlpool from $101.00 to $103.00 and gave the company an “underperform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on shares of Whirlpool from $103.00 to $109.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada decreased 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. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $106.50.

Whirlpool Stock Up 9.6 %

The business has a 50 day moving average of $107.68 and a two-hundred day moving average of $101.14. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.55 and a current ratio of 0.94. The stock has a market capitalization of $6.82 billion, a PE ratio of 12.09 and a beta of 1.46.

Whirlpool (NYSE:WHR) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $3.43 EPS for the quarter, topping 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 analyst estimates of $4.09 billion. During the same quarter in the previous year, the firm earned $5.45 EPS. The firm’s revenue was down 18.9% compared to the same quarter last year. Analysts predict that Whirlpool Co. will post 12.27 EPS for the current year.

Whirlpool Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Friday, November 15th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend is Friday, November 15th. Whirlpool’s dividend payout ratio (DPR) is presently 69.03%.

Insider Activity at Whirlpool

In other news, CFO James W. Peters sold 6,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $104.48, for a total value of $626,880.00. Following the completion of the sale, the chief financial officer now owns 41,570 shares in the company, valued at approximately $4,343,233.60. This trade represents a 12.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Whirlpool

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SouthState Corp acquired a new stake in shares of Whirlpool during the second quarter valued at $28,000. Altshuler Shaham Ltd acquired a new stake in shares of Whirlpool during the 2nd quarter worth about $32,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Whirlpool in the second quarter valued at approximately $32,000. True Wealth Design LLC lifted its position in Whirlpool by 545.5% during the third quarter. True Wealth Design LLC now owns 355 shares of the company’s stock worth $38,000 after buying an additional 300 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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 acquiring an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 90.78% of the company’s stock.

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.