Wolfe Research initiated coverage on shares of W W Grainger (NYSE:GWW) in a research note released on Wednesday. The brokerage issued a market perform rating on the industrial products company’s stock.
GWW has been the topic of a number of other research reports. BMO Capital Markets upped their price objective on shares of W W Grainger from $247.00 to $255.00 and gave the stock a market perform rating in a report on Friday, April 20th. Goldman Sachs Group restated a neutral rating on shares of W W Grainger in a report on Monday, March 19th. Zacks Investment Research cut shares of W W Grainger from a buy rating to a hold rating in a report on Wednesday, June 20th. Stephens set a $282.00 price objective on shares of W W Grainger and gave the stock a hold rating in a report on Friday, April 13th. Finally, Royal Bank of Canada restated a sell rating and issued a $221.00 price objective on shares of W W Grainger in a report on Friday, April 20th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $261.55.
W W Grainger opened at $308.40 on Wednesday, MarketBeat reports. The stock has a market capitalization of $17.23 billion, a P/E ratio of 26.91, a P/E/G ratio of 1.71 and a beta of 0.81. The company has a quick ratio of 1.24, a current ratio of 2.20 and a debt-to-equity ratio of 1.17. W W Grainger has a 1 year low of $155.00 and a 1 year high of $322.34.
W W Grainger (NYSE:GWW) last announced its quarterly earnings data on Thursday, April 19th. The industrial products company reported $4.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.44 by $0.74. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.72 billion. W W Grainger had a net margin of 6.03% and a return on equity of 39.23%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.88 earnings per share. equities analysts anticipate that W W Grainger will post 14.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Monday, May 14th were issued a dividend of $1.36 per share. This is a boost from W W Grainger’s previous quarterly dividend of $1.28. The ex-dividend date was Friday, May 11th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 1.76%. W W Grainger’s dividend payout ratio is presently 47.47%.
In other news, VP Ronald L. Jadin sold 29,000 shares of the stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $286.93, for a total transaction of $8,320,970.00. Following the sale, the vice president now owns 49,459 shares in the company, valued at $14,191,270.87. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Eric R. Tapia sold 2,265 shares of the stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $315.57, for a total transaction of $714,766.05. Following the sale, the vice president now owns 4,637 shares in the company, valued at approximately $1,463,298.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,981 shares of company stock worth $14,848,442. Corporate insiders own 10.10% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in W W Grainger by 1.4% during the first quarter. BlackRock Inc. now owns 3,563,639 shares of the industrial products company’s stock valued at $1,005,907,000 after purchasing an additional 47,517 shares during the period. Clearbridge Investments LLC lifted its position in W W Grainger by 7.6% during the fourth quarter. Clearbridge Investments LLC now owns 1,724,480 shares of the industrial products company’s stock valued at $407,408,000 after purchasing an additional 121,831 shares during the period. Franklin Resources Inc. lifted its position in W W Grainger by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 652,960 shares of the industrial products company’s stock valued at $154,262,000 after purchasing an additional 4,154 shares during the period. Millennium Management LLC lifted its position in W W Grainger by 4,050.2% during the first quarter. Millennium Management LLC now owns 283,503 shares of the industrial products company’s stock valued at $80,024,000 after purchasing an additional 276,672 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in W W Grainger by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 272,674 shares of the industrial products company’s stock valued at $76,968,000 after purchasing an additional 2,932 shares during the period. Hedge funds and other institutional investors own 78.52% of the company’s stock.
W W Grainger Company Profile
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) supplies; and other related products and services that are used by businesses and institutions in the United States, Canada, Europe, Asia, and Latin America. The company offers material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, metalworking tools, and various other products.
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