LPL Financial LLC Increases Position in Whirlpool Corporation (NYSE:WHR)

Key Points

• LPL Financial LLC increased its stake in Whirlpool Corporation by 33.6% in the first quarter, holding 116,141 shares valued at approximately $10.5 million.
• Recent earnings reports show Whirlpool missed earnings estimates, reporting $1.34 EPS against a consensus of $1.54 and experiencing a 5.4% decrease in revenue compared to the previous year.
• Whirlpool's stock has received mixed analyst ratings, with the average price target currently at $98.83, while some analysts downgraded their ratings citing underperformance.

LPL Financial LLC boosted its holdings in shares of Whirlpool Corporation (NYSE:WHR - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,141 shares of the company's stock after acquiring an additional 29,179 shares during the period. LPL Financial LLC owned about 0.21% of Whirlpool worth $10,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Whirlpool by 13.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,934 shares of the company's stock valued at $4,022,000 after purchasing an additional 5,202 shares during the period. Raymond James Financial Inc. acquired a new stake in Whirlpool in the fourth quarter valued at approximately $34,719,000. MADDEN SECURITIES Corp lifted its position in shares of Whirlpool by 44.5% in the first quarter. MADDEN SECURITIES Corp now owns 11,665 shares of the company's stock valued at $1,051,000 after acquiring an additional 3,595 shares in the last quarter. Tang Capital Management LLC purchased a new position in shares of Whirlpool in the fourth quarter valued at approximately $974,000. Finally, Advisors Capital Management LLC lifted its position in shares of Whirlpool by 41.8% in the fourth quarter. Advisors Capital Management LLC now owns 166,556 shares of the company's stock valued at $19,067,000 after acquiring an additional 49,121 shares in the last quarter. Institutional investors own 90.78% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on WHR shares. Longbow Research upgraded Whirlpool from a "neutral" rating to a "buy" rating and set a $145.00 price objective on the stock in a research report on Monday, June 30th. JPMorgan Chase & Co. dropped their price objective on Whirlpool from $109.00 to $89.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Bank of America reissued an "underperform" rating and set a $70.00 target price (down from $100.00) on shares of Whirlpool in a research note on Tuesday, July 29th. Loop Capital reaffirmed a "hold" rating and set a $88.00 price target on shares of Whirlpool in a report on Monday, August 4th. Finally, Royal Bank Of Canada reduced their target price on Whirlpool from $65.00 to $63.00 and set an "underperform" rating for the company in a report on Wednesday, July 30th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Whirlpool has an average rating of "Hold" and a consensus target price of $98.83.

Whirlpool Stock Performance

WHR traded up $3.40 on Tuesday, hitting $85.63. 1,129,162 shares of the company traded hands, compared to its average volume of 1,351,403. The company has a 50 day moving average of $93.89 and a 200-day moving average of $91.42. The company has a quick ratio of 0.46, a current ratio of 0.85 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $4.79 billion, a PE ratio of -32.31 and a beta of 1.17. Whirlpool Corporation has a 12-month low of $73.72 and a 12-month high of $135.49.

Whirlpool (NYSE:WHR - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.20). The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.88 billion. Whirlpool had a positive return on equity of 20.81% and a negative net margin of 0.95%. The business's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.39 EPS. Sell-side analysts anticipate that Whirlpool Corporation will post 9.52 earnings per share for the current year.

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.