Eaton Vance Management raised its position in W W Grainger Inc (NYSE:GWW) by 45.4% during the third quarter, HoldingsChannel.com reports. The fund owned 12,895 shares of the industrial products company’s stock after purchasing an additional 4,024 shares during the quarter. Eaton Vance Management’s holdings in W W Grainger were worth $4,609,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in GWW. FMR LLC increased its position in shares of W W Grainger by 94.6% in the second quarter. FMR LLC now owns 1,386,729 shares of the industrial products company’s stock valued at $427,667,000 after acquiring an additional 673,993 shares during the period. Voya Investment Management LLC increased its position in shares of W W Grainger by 680.6% in the second quarter. Voya Investment Management LLC now owns 239,514 shares of the industrial products company’s stock valued at $73,866,000 after acquiring an additional 208,829 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd increased its position in shares of W W Grainger by 32.5% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 759,809 shares of the industrial products company’s stock valued at $271,563,000 after acquiring an additional 186,332 shares during the period. Morgan Stanley increased its position in shares of W W Grainger by 92.6% in the second quarter. Morgan Stanley now owns 325,769 shares of the industrial products company’s stock valued at $100,468,000 after acquiring an additional 156,607 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in shares of W W Grainger in the second quarter valued at about $41,173,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.
Shares of GWW opened at $289.43 on Friday. The stock has a market cap of $16.87 billion, a PE ratio of 19.10, a P/E/G ratio of 1.48 and a beta of 1.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.44 and a current ratio of 2.44. W W Grainger Inc has a 1-year low of $221.24 and a 1-year high of $372.06.
W W Grainger (NYSE:GWW) last announced its earnings results on Tuesday, October 16th. The industrial products company reported $4.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.23. W W Grainger had a net margin of 6.51% and a return on equity of 45.22%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts expect that W W Grainger Inc will post 16.3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Monday, November 12th were paid a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, November 8th. W W Grainger’s payout ratio is currently 47.47%.
A number of equities research analysts have recently weighed in on GWW shares. Oppenheimer lifted their target price on shares of W W Grainger from $400.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, September 21st. BMO Capital Markets cut their target price on shares of W W Grainger from $332.00 to $330.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 17th. Macquarie lifted their target price on shares of W W Grainger from $314.00 to $358.00 and gave the company a “neutral” rating in a research note on Wednesday, August 22nd. ValuEngine lowered shares of W W Grainger from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Finally, Gordon Haskett started coverage on shares of W W Grainger in a research note on Friday, October 12th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $308.43.
ILLEGAL ACTIVITY WARNING: “Eaton Vance Management Has $4.61 Million Holdings in W W Grainger Inc (GWW)” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.dispatchtribunal.com/2018/12/08/eaton-vance-management-has-4-61-million-holdings-in-w-w-grainger-inc-gww.html.
About W W Grainger
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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