State Street Corp lessened its position in shares of W.W. Grainger, Inc. (NYSE:GWW) by 2.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,305,588 shares of the industrial products company’s stock after selling 49,652 shares during the period. State Street Corp owned 4.30% of W.W. Grainger worth $822,565,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. grew its holdings in shares of W.W. Grainger by 0.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 56,676 shares of the industrial products company’s stock valued at $17,056,000 after buying an additional 164 shares during the last quarter. Morgan Stanley grew its holdings in shares of W.W. Grainger by 4.5% during the first quarter. Morgan Stanley now owns 139,087 shares of the industrial products company’s stock valued at $34,562,000 after buying an additional 6,016 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of W.W. Grainger by 1.5% during the second quarter. New York State Teachers Retirement System now owns 64,558 shares of the industrial products company’s stock valued at $20,282,000 after buying an additional 980 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of W.W. Grainger by 1.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,368 shares of the industrial products company’s stock valued at $3,257,000 after buying an additional 128 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new position in shares of W.W. Grainger during the second quarter valued at about $391,000. 72.27% of the stock is owned by institutional investors and hedge funds.
NYSE GWW opened at $409.30 on Friday. The company’s 50 day moving average is $379.14 and its 200-day moving average is $339.82. W.W. Grainger, Inc. has a 12-month low of $200.61 and a 12-month high of $424.08. The company has a quick ratio of 1.73, a current ratio of 2.97 and a debt-to-equity ratio of 1.01. The firm has a market cap of $21.97 billion, a P/E ratio of 35.35, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10.
W.W. Grainger (NYSE:GWW) last posted its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.13 by $0.39. W.W. Grainger had a net margin of 5.37% and a return on equity of 41.31%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the firm posted $4.26 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts expect that W.W. Grainger, Inc. will post 16.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 9th will be given a $1.53 dividend. This represents a $6.12 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, November 6th. W.W. Grainger’s dividend payout ratio (DPR) is currently 35.40%.
In related news, VP Paige K. Robbins sold 2,790 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $367.68, for a total transaction of $1,025,827.20. Also, CEO Donald G. Macpherson sold 14,909 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $356.05, for a total transaction of $5,308,349.45. Following the completion of the transaction, the chief executive officer now directly owns 69,394 shares of the company’s stock, valued at approximately $24,707,733.70. The disclosure for this sale can be found here. Insiders have sold a total of 84,699 shares of company stock worth $29,715,837 in the last ninety days. 13.97% of the stock is currently owned by insiders.
A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of W.W. Grainger from $399.00 to $419.00 and gave the company a “hold” rating in a report on Friday, November 13th. Oppenheimer boosted their price target on shares of W.W. Grainger from $375.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, September 30th. Raymond James boosted their price target on shares of W.W. Grainger from $390.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, October 23rd. Stephens began coverage on shares of W.W. Grainger in a report on Thursday, October 15th. They set an “equal weight” rating on the stock. Finally, Morgan Stanley boosted their price target on shares of W.W. Grainger from $366.00 to $401.00 and gave the stock an “equal weight” rating in a report on Friday, October 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $359.14.
W.W. Grainger Company Profile
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) products and services in the United States, Canada, and internationally. The company provides material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, and metalworking tools, as well as gloves, ladders, motors, and janitorial supplies.
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