Principal Financial Group Inc. Cuts Stake in Whirlpool Co. (NYSE:WHR)

Principal Financial Group Inc. reduced its holdings in shares of Whirlpool Co. (NYSE:WHR - Free Report) by 30.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,051 shares of the company's stock after selling 54,761 shares during the period. Principal Financial Group Inc. owned about 0.23% of Whirlpool worth $13,594,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WHR. Stifel Financial Corp grew its holdings in shares of Whirlpool by 1.4% during the 3rd quarter. Stifel Financial Corp now owns 440,175 shares of the company's stock valued at $47,099,000 after purchasing an additional 6,049 shares during the last quarter. HighTower Advisors LLC boosted its position in Whirlpool by 1.9% during the third quarter. HighTower Advisors LLC now owns 1,033,263 shares of the company's stock valued at $110,567,000 after buying an additional 18,936 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Whirlpool by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,019,569 shares of the company's stock valued at $216,094,000 after buying an additional 258,871 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Whirlpool by 41.5% in the second quarter. Evergreen Capital Management LLC now owns 43,261 shares of the company's stock worth $4,421,000 after buying an additional 12,697 shares during the period. Finally, State Street Corp lifted its stake in shares of Whirlpool by 1.0% in the 3rd quarter. State Street Corp now owns 1,650,386 shares of the company's stock valued at $176,591,000 after acquiring an additional 15,752 shares during the last quarter. 90.78% of the stock is owned by hedge funds and other institutional investors.

Whirlpool Trading Down 0.7 %

NYSE WHR traded down $0.86 during trading on Friday, hitting $115.17. The company had a trading volume of 623,930 shares, compared to its average volume of 1,119,390. The company's fifty day moving average is $111.94 and its 200-day moving average is $104.32. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 11.36 and a beta of 1.46. The company has a current ratio of 0.94, a quick ratio of 0.55 and a debt-to-equity ratio of 1.94. Whirlpool Co. has a one year low of $84.18 and a one year high of $126.30.

Whirlpool (NYSE:WHR - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $4.09 billion. During the same period in the prior year, the firm earned $5.45 earnings per share. Whirlpool's revenue was down 18.9% on a year-over-year basis. On average, sell-side analysts predict that Whirlpool Co. will post 12.27 earnings per share for the current year.

Whirlpool Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Friday, November 15th were paid a $1.75 dividend. The ex-dividend date was Friday, November 15th. This represents a $7.00 annualized dividend and a yield of 6.08%. Whirlpool's payout ratio is 69.03%.

Insiders Place Their Bets

In other Whirlpool news, CFO James W. Peters sold 6,000 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $104.48, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.05% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America raised their price target on Whirlpool from $101.00 to $103.00 and gave the stock an "underperform" rating in a research report on Friday, October 25th. Royal Bank of Canada decreased their target price 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. Finally, JPMorgan Chase & Co. increased their price target 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 research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Whirlpool currently has a consensus rating of "Hold" and a consensus price target of $106.50.

Whirlpool Company 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.