Y Intercept Hong Kong Ltd acquired a new stake in shares of W.W. Grainger, Inc. (NYSE:GWW – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,570 shares of the industrial products company’s stock, valued at approximately $2,803,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GWW. Avantax Planning Partners Inc. increased its holdings in shares of W.W. Grainger by 1.9% in the fourth quarter. Avantax Planning Partners Inc. now owns 483 shares of the industrial products company’s stock valued at $487,000 after purchasing an additional 9 shares during the period. Hohimer Wealth Management LLC boosted its holdings in W.W. Grainger by 1.2% during the fourth quarter. Hohimer Wealth Management LLC now owns 788 shares of the industrial products company’s stock worth $795,000 after buying an additional 9 shares in the last quarter. DAVENPORT & Co LLC grew its position in shares of W.W. Grainger by 0.6% during the 4th quarter. DAVENPORT & Co LLC now owns 1,789 shares of the industrial products company’s stock valued at $1,805,000 after acquiring an additional 10 shares during the period. Sawyer & Company Inc grew its holdings in W.W. Grainger by 1.5% in the fourth quarter. Sawyer & Company Inc now owns 676 shares of the industrial products company’s stock valued at $682,000 after purchasing an additional 10 shares during the period. Finally, Dearborn Partners LLC lifted its position in shares of W.W. Grainger by 3.4% during the 4th quarter. Dearborn Partners LLC now owns 305 shares of the industrial products company’s stock valued at $308,000 after buying an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.
W.W. Grainger Trading Down 1.1%
Shares of NYSE:GWW opened at $1,354.98 on Wednesday. W.W. Grainger, Inc. has a 52 week low of $906.52 and a 52 week high of $1,390.96. The company’s 50 day moving average is $1,279.90 and its two-hundred day moving average is $1,160.03. The company has a market cap of $63.97 billion, a PE ratio of 36.44, a P/E/G ratio of 2.53 and a beta of 1.03. The company has a current ratio of 2.69, a quick ratio of 1.60 and a debt-to-equity ratio of 0.55.
W.W. Grainger Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $2.49 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $9.96 annualized dividend and a dividend yield of 0.7%. This is an increase from W.W. Grainger’s previous quarterly dividend of $2.26. W.W. Grainger’s payout ratio is currently 26.79%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on GWW. DA Davidson began coverage on W.W. Grainger in a report on Tuesday, June 16th. They set a “neutral” rating and a $1,250.00 target price for the company. Morgan Stanley boosted their target price on shares of W.W. Grainger from $1,190.00 to $1,300.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Weiss Ratings downgraded W.W. Grainger from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Barclays dropped their target price on shares of W.W. Grainger from $1,171.00 to $1,166.00 and set an “underweight” rating for the company in a report on Tuesday, June 23rd. Finally, Stephens boosted their price target on shares of W.W. Grainger from $1,300.00 to $1,355.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, W.W. Grainger presently has a consensus rating of “Hold” and a consensus price target of $1,216.44.
View Our Latest Analysis on GWW
Insider Transactions at W.W. Grainger
In other news, VP Laurie R. Thomson sold 313 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,231.69, for a total value of $385,518.97. Following the transaction, the vice president owned 399 shares in the company, valued at approximately $491,444.31. This represents a 43.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paige K. Robbins sold 1,457 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,232.29, for a total value of $1,795,446.53. Following the sale, the vice president directly owned 2,232 shares in the company, valued at $2,750,471.28. This trade represents a 39.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,624 shares of company stock valued at $3,232,291. 6.30% of the stock is currently owned by corporate insiders.
About W.W. Grainger
W.W. Grainger, Inc (NYSE: GWW) is an industrial supply distributor founded in 1927 and headquartered in Lake Forest, Illinois. The company supplies maintenance, repair and operations (MRO) products and services to businesses, institutions and government customers. Over its long history Grainger has developed a broad product assortment and a national distribution network that supports operations across a range of end markets, including manufacturing, healthcare, hospitality, transportation and public sector organizations.
Grainger’s product portfolio spans core categories such as electrical and lighting, safety and personal protective equipment, material handling, motors and power transmission, plumbing and HVAC, fasteners and adhesives, hand and power tools, and janitorial and facility supplies.
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