Peapack Gladstone Financial Corp Sells 776 Shares of Whirlpool Co. (NYSE:WHR)

Peapack Gladstone Financial Corp lessened its stake in Whirlpool Co. (NYSE:WHR) by 19.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,173 shares of the company’s stock after selling 776 shares during the period. Peapack Gladstone Financial Corp’s holdings in Whirlpool were worth $340,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. boosted its holdings in Whirlpool by 4.5% in the third quarter. Westside Investment Management Inc. now owns 2,345 shares of the company’s stock valued at $251,000 after acquiring an additional 100 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Whirlpool by 4.2% in the 3rd quarter. Tidal Investments LLC now owns 3,151 shares of the company’s stock valued at $337,000 after purchasing an additional 128 shares during the last quarter. Sigma Planning Corp increased its position in shares of Whirlpool by 6.4% during the third quarter. Sigma Planning Corp now owns 2,170 shares of the company’s stock worth $232,000 after buying an additional 130 shares during the period. Dakota Wealth Management raised its stake in Whirlpool by 2.0% during the third quarter. Dakota Wealth Management now owns 7,395 shares of the company’s stock worth $791,000 after buying an additional 145 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in Whirlpool by 2.2% in the third quarter. Moors & Cabot Inc. now owns 6,979 shares of the company’s stock valued at $747,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 90.78% of the company’s stock.

Insider Buying and Selling

In other news, CFO James W. Peters sold 6,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was 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 directly owns 41,570 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. 2.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Whirlpool from $103.00 to $109.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Bank of America boosted their price target on Whirlpool from $101.00 to $103.00 and gave the company an “underperform” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada reduced their price objective on shares of Whirlpool from $76.00 to $74.00 and set an “underperform” rating for the company in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $106.50.

Whirlpool Stock Down 1.1 %

WHR stock opened at $121.53 on Tuesday. The stock’s 50 day simple moving average is $109.50 and its 200 day simple moving average is $102.47. The company has a market cap of $6.70 billion, a P/E ratio of 11.99 and a beta of 1.46. 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 Co. has a fifty-two week low of $84.18 and a fifty-two week high of $126.30.

Whirlpool (NYSE:WHR) last issued its earnings results on Wednesday, October 23rd. The company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.44. Whirlpool had a return on equity of 21.41% and a net margin of 3.19%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the firm earned $5.45 earnings per share. Whirlpool’s revenue for the quarter was down 18.9% on a year-over-year basis. On average, research analysts expect that Whirlpool Co. will post 12.27 earnings per share for the current fiscal year.

Whirlpool Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Friday, November 15th were given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 5.76%. The ex-dividend date of this dividend was Friday, November 15th. Whirlpool’s payout ratio is presently 69.03%.

Whirlpool 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.