The S&P fell 0.29 points, or 0.02%, to 1,402.31 in early trading Friday.
Shares of Whirlpool dropped 2.7% to $76.69. The company announced Thursday that Joao Brega was named executive vice president; current executive vice president Jose Drummond Jr. was named CEO of the company's European and African division. Brega previously served as CEO of the company's Embraco line.
Whirlpool has an estimated price-to-earnings ratio for next year of 11.18 times; the average for durable household products companies is 11.04. For comparison, Newell Rubbermaid (NWL) has a lower forward P/E of 10.19; Stanley Black & Decker's (SWK) forward P/E is 12.14.Three of the seven analysts who cover Whirlpool rated it hold. Two analysts gave the stock a buy rating and another two rated it sell. TheStreet Ratings gives Whirlpool a B grade with a buy rating and a $84.82 price target. The stock has risen 62.55% year to date.
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