Westpac Banking Corp Cuts Stake in W.W. Grainger, Inc. (GWW)

Westpac Banking Corp lessened its holdings in W.W. Grainger, Inc. (NYSE:GWW) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,029 shares of the industrial products company’s stock after selling 310 shares during the quarter. Westpac Banking Corp’s holdings in W.W. Grainger were worth $4,319,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Exane Derivatives bought a new stake in shares of W.W. Grainger in the third quarter worth $101,000. Salem Investment Counselors Inc. lifted its position in shares of W.W. Grainger by 1.0% in the second quarter. Salem Investment Counselors Inc. now owns 606 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 6 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of W.W. Grainger by 18,650.0% in the second quarter. Chicago Partners Investment Group LLC now owns 750 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 746 shares in the last quarter. NEXT Financial Group Inc lifted its position in shares of W.W. Grainger by 12.8% in the second quarter. NEXT Financial Group Inc now owns 883 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 100 shares in the last quarter. Finally, Enterprise Financial Services Corp lifted its position in shares of W.W. Grainger by 80.8% in the second quarter. Enterprise Financial Services Corp now owns 902 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 403 shares in the last quarter. 83.99% of the stock is currently owned by institutional investors and hedge funds.

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In other W.W. Grainger news, VP Paige K. Robbins sold 346 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $202.31, for a total transaction of $69,999.26. Following the sale, the vice president now directly owns 8,400 shares in the company, valued at $1,699,404. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Eric R. Tapia sold 190 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $208.26, for a total transaction of $39,569.40. Following the sale, the vice president now owns 3,748 shares in the company, valued at $780,558.48. The disclosure for this sale can be found here. Corporate insiders own 9.60% of the company’s stock.

Several analysts have issued reports on the stock. UBS AG lowered shares of W.W. Grainger from a “neutral” rating to a “sell” rating and upped their price target for the stock from $170.00 to $195.00 in a research report on Thursday, October 19th. Atlantic Securities raised shares of W.W. Grainger from an “underweight” rating to a “neutral” rating in a research report on Thursday, October 19th. Credit Suisse Group set a $172.00 price target on shares of W.W. Grainger and gave the stock a “sell” rating in a research report on Wednesday, October 18th. Morgan Stanley set a $185.00 price target on shares of W.W. Grainger and gave the stock a “sell” rating in a research report on Wednesday, October 18th. Finally, Oppenheimer Holdings, Inc. raised shares of W.W. Grainger from a “market perform” rating to an “outperform” rating and set a $245.00 price target on the stock in a research report on Wednesday, October 18th. Seven analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. W.W. Grainger has an average rating of “Hold” and a consensus price target of $190.85.

W.W. Grainger, Inc. (GWW) opened at $200.01 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.28 and a quick ratio of 1.28. W.W. Grainger, Inc. has a one year low of $155.00 and a one year high of $262.71. The company has a market cap of $11,397.21, a PE ratio of 18.23, a P/E/G ratio of 1.94 and a beta of 0.78.

W.W. Grainger (NYSE:GWW) last announced its quarterly earnings data on Tuesday, October 17th. The industrial products company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.34. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.65 billion. W.W. Grainger had a net margin of 4.83% and a return on equity of 34.25%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 earnings per share. research analysts anticipate that W.W. Grainger, Inc. will post 10.65 EPS for the current fiscal year.

The company 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 dividend of $1.28 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $5.12 dividend on an annualized basis and a yield of 2.56%. W.W. Grainger’s payout ratio is 60.95%.

W.W. Grainger 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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Institutional Ownership by Quarter for W.W. Grainger (NYSE:GWW)

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