Empowered Funds LLC bought a new position in shares of W.W. Grainger, Inc. (NYSE:GWW – Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 18,793 shares of the industrial products company’s stock, valued at approximately $25,566,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in W.W. Grainger during the second quarter worth about $6,303,024,000. Wellington Management Group LLP boosted its stake in W.W. Grainger by 1,462.1% in the fourth quarter. Wellington Management Group LLP now owns 1,071,854 shares of the industrial products company’s stock valued at $1,081,554,000 after acquiring an additional 1,003,237 shares during the last quarter. Norges Bank bought a new position in shares of W.W. Grainger during the 4th quarter valued at approximately $518,958,000. Bank of America Corp DE purchased a new stake in shares of W.W. Grainger during the 2nd quarter worth approximately $621,127,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of W.W. Grainger by 34,269.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 435,466 shares of the industrial products company’s stock worth $439,407,000 after purchasing an additional 434,199 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.
W.W. Grainger Stock Performance
W.W. Grainger stock opened at $1,319.67 on Friday. The firm’s 50 day simple moving average is $1,344.10 and its 200 day simple moving average is $1,234.33. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.53. W.W. Grainger, Inc. has a 1-year low of $906.52 and a 1-year high of $1,419.91. The firm has a market capitalization of $62.16 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04.
W.W. Grainger Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th will be paid a $2.49 dividend. This represents a $9.96 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 10th. W.W. Grainger’s dividend payout ratio is currently 25.40%.
Analysts Set New Price Targets
Several equities analysts recently commented on GWW shares. Stephens downgraded W.W. Grainger from an “overweight” rating to an “equal weight” rating and set a $1,355.00 price objective on the stock. in a research note on Tuesday, July 14th. Weiss Ratings raised W.W. Grainger from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 17th. Wolfe Research upgraded W.W. Grainger from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. DA Davidson increased their price target on W.W. Grainger from $1,250.00 to $1,260.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Oppenheimer boosted their price objective on W.W. Grainger from $1,350.00 to $1,375.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1,286.62.
Read Our Latest Research Report on W.W. Grainger
W.W. Grainger Profile
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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