Parsec Financial Management Inc. purchased a new stake in shares of W.W. Grainger, Inc. (NYSE:GWW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,055 shares of the industrial products company’s stock, valued at approximately $369,000.
Other institutional investors also recently bought and sold shares of the company. Tobam purchased a new position in shares of W.W. Grainger during the 2nd quarter valued at $7,228,000. Neuberger Berman Group LLC boosted its holdings in W.W. Grainger by 16.3% in the second quarter. Neuberger Berman Group LLC now owns 852,421 shares of the industrial products company’s stock worth $153,888,000 after purchasing an additional 119,186 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in W.W. Grainger by 2.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 168,049 shares of the industrial products company’s stock worth $30,338,000 after purchasing an additional 4,210 shares in the last quarter. State Farm Mutual Automobile Insurance Co. boosted its holdings in W.W. Grainger by 102.3% in the second quarter. State Farm Mutual Automobile Insurance Co. now owns 41,570 shares of the industrial products company’s stock worth $7,505,000 after purchasing an additional 21,017 shares in the last quarter. Finally, Ronna Sue Cohen bought a new stake in W.W. Grainger in the third quarter worth $3,651,000. Institutional investors and hedge funds own 82.00% of the company’s stock.
W.W. Grainger, Inc. (NYSE GWW) opened at 199.76 on Monday. W.W. Grainger, Inc. has a 52-week low of $155.00 and a 52-week high of $262.71. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 23.84 and a beta of 0.76. The company has a 50-day moving average of $182.71 and a 200 day moving average of $178.13.
W.W. Grainger (NYSE:GWW) last issued its quarterly earnings data on Tuesday, October 17th. The industrial products company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.34. W.W. Grainger had a net margin of 4.83% and a return on equity of 34.25%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the company earned $3.06 EPS. The business’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts anticipate that W.W. Grainger, Inc. will post $10.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be paid a $1.28 dividend. This represents a $5.12 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Friday, November 10th. W.W. Grainger’s dividend payout ratio (DPR) is 60.95%.
In other news, VP Eric R. Tapia sold 190 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $208.26, for a total value of $39,569.40. Following the completion of the transaction, the vice president now directly owns 3,748 shares in the company, valued at approximately $780,558.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is owned by insiders.
A number of brokerages recently issued reports on GWW. Oppenheimer Holdings, Inc. upgraded shares of W.W. Grainger from a “market perform” rating to an “outperform” rating and set a $245.00 price objective for the company in a report on Wednesday, October 18th. BMO Capital Markets reiterated a “market perform” rating and issued a $194.00 price objective (up from $178.00) on shares of W.W. Grainger in a report on Wednesday, October 18th. Atlantic Securities upgraded shares of W.W. Grainger from an “underweight” rating to a “neutral” rating in a report on Thursday, October 19th. KeyCorp reiterated a “sector weight” rating on shares of W.W. Grainger in a report on Monday, August 21st. Finally, Royal Bank Of Canada upped their price objective on shares of W.W. Grainger from $145.00 to $146.00 and gave the stock an “underperform” rating in a report on Wednesday, October 18th. Seven analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $190.85.
W.W. Grainger Company Profile
W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.
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