Whirlpool Corporation (NYSE:WHR) Shares Sold by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD reduced its stake in Whirlpool Corporation (NYSE:WHR) by 7.7% during the second quarter, Holdings Channel reports. The fund owned 5,886 shares of the company’s stock after selling 488 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Whirlpool Corporation were worth $1,127,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of WHR. Vanguard Group Inc. increased its stake in Whirlpool Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 7,290,778 shares of the company’s stock valued at $1,249,128,000 after buying an additional 170,267 shares during the last quarter. BlackRock Inc. increased its stake in Whirlpool Corporation by 3,484.6% in the first quarter. BlackRock Inc. now owns 4,983,869 shares of the company’s stock valued at $853,885,000 after buying an additional 4,844,832 shares during the last quarter. State Street Corp increased its stake in Whirlpool Corporation by 1.7% in the first quarter. State Street Corp now owns 3,611,514 shares of the company’s stock valued at $618,757,000 after buying an additional 60,274 shares during the last quarter. Greenhaven Associates Inc. increased its stake in Whirlpool Corporation by 1.9% in the first quarter. Greenhaven Associates Inc. now owns 2,719,870 shares of the company’s stock valued at $465,995,000 after buying an additional 51,255 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Whirlpool Corporation by 3.3% in the first quarter. OppenheimerFunds Inc. now owns 1,925,455 shares of the company’s stock valued at $329,889,000 after buying an additional 61,803 shares during the last quarter. 93.82% of the stock is owned by institutional investors and hedge funds.
Shares of Whirlpool Corporation (NYSE WHR) opened at 177.82 on Friday. Whirlpool Corporation has a 12 month low of $145.91 and a 12 month high of $202.99. The company has a market capitalization of $12.98 billion, a PE ratio of 17.80 and a beta of 1.79. The firm has a 50-day moving average of $190.84 and a 200 day moving average of $181.45.
Whirlpool Corporation (NYSE:WHR) last announced its earnings results on Wednesday, July 26th. The company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.54 by $0.19. The business had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.35 billion. Whirlpool Corporation had a return on equity of 18.17% and a net margin of 3.61%. Whirlpool Corporation’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.50 EPS. On average, equities research analysts expect that Whirlpool Corporation will post $14.63 earnings per share for the current fiscal year.
Whirlpool Corporation declared that its board has initiated a stock repurchase plan on Wednesday, July 26th that permits the company to repurchase $2.35 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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WHR has been the subject of several research analyst reports. BidaskClub downgraded shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group initiated coverage on shares of Whirlpool Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $208.00 price objective for the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Whirlpool Corporation in a report on Friday, June 2nd. Finally, Zacks Investment Research downgraded shares of Whirlpool Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $194.71.
In related news, insider Marc R. Bitzer sold 19,314 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $183.84, for a total value of $3,550,685.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William D. Perez purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $176.93 per share, for a total transaction of $176,930.00. Following the acquisition, the director now owns 7,239 shares of the company’s stock, valued at $1,280,796.27. The disclosure for this purchase can be found here. 2.69% of the stock is owned by company insiders.
Whirlpool Corporation Company Profile
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company’s segments include North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia. In North America, the Company markets and distributes home appliances and small domestic appliances under a range of brand names.
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