W.W. Grainger (NYSE:GWW) Upgraded at Wolfe Research

Wolfe Research upgraded shares of W.W. Grainger (NYSE:GWW) to a hold rating in a research note published on Sunday, Zacks.com reports.

GWW has been the subject of a number of other research reports. StockNews.com downgraded shares of W.W. Grainger from a buy rating to a hold rating in a research note on Wednesday, May 29th. Morgan Stanley began coverage on shares of W.W. Grainger in a report on Friday, September 6th. They issued an equal weight rating and a $990.00 price target for the company. Baird R W downgraded shares of W.W. Grainger from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. Erste Group Bank reaffirmed a hold rating on shares of W.W. Grainger in a research note on Friday, June 14th. Finally, Royal Bank of Canada decreased their target price on shares of W.W. Grainger from $978.00 to $972.00 and set a sector perform rating on the stock in a research report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $1,014.11.

W.W. Grainger Stock Down 0.8 %

GWW stock opened at $1,032.16 on Friday. W.W. Grainger has a 52 week low of $674.41 and a 52 week high of $1,049.02. The stock has a market capitalization of $50.40 billion, a P/E ratio of 28.50, a P/E/G ratio of 2.07 and a beta of 1.16. The firm has a 50-day simple moving average of $974.41 and a 200-day simple moving average of $957.40. The company has a quick ratio of 1.40, a current ratio of 2.30 and a debt-to-equity ratio of 0.50.

W.W. Grainger (NYSE:GWW) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $9.76 earnings per share for the quarter, topping the consensus estimate of $9.58 by $0.18. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.35 billion. W.W. Grainger had a return on equity of 53.25% and a net margin of 10.86%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $9.28 earnings per share. Equities analysts forecast that W.W. Grainger will post 38.75 earnings per share for the current fiscal year.

W.W. Grainger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 12th were paid a dividend of $2.05 per share. The ex-dividend date was Monday, August 12th. This represents a $8.20 annualized dividend and a dividend yield of 0.79%. W.W. Grainger’s dividend payout ratio is presently 22.64%.

Insider Buying and Selling at W.W. Grainger

In other news, CEO Donald G. Macpherson sold 27,502 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $1,000.82, for a total value of $27,524,551.64. Following the completion of the sale, the chief executive officer now owns 111,559 shares of the company’s stock, valued at approximately $111,650,478.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On W.W. Grainger

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearbridge Investments LLC raised its stake in W.W. Grainger by 17.4% during the 1st quarter. Clearbridge Investments LLC now owns 1,148,051 shares of the industrial products company’s stock valued at $1,167,913,000 after acquiring an additional 169,897 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in W.W. Grainger by 5.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 360,026 shares of the industrial products company’s stock worth $324,841,000 after purchasing an additional 17,699 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of W.W. Grainger during the second quarter valued at $281,104,000. Hsbc Holdings PLC lifted its position in shares of W.W. Grainger by 0.8% in the second quarter. Hsbc Holdings PLC now owns 243,470 shares of the industrial products company’s stock worth $219,386,000 after purchasing an additional 1,849 shares in the last quarter. Finally, FIL Ltd lifted its position in W.W. Grainger by 21.4% in the 4th quarter. FIL Ltd now owns 240,856 shares of the industrial products company’s stock worth $199,595,000 after buying an additional 42,395 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

W.W. Grainger Company Profile

W.W. Grainger, Inc, together with its subsidiaries, distributes maintenance, repair, and operating products and services primarily in North America, Japan, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. The company provides safety, security, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance, and metalworking and hand tools.