W.W. Grainger (NYSE:GWW) PT Raised to $1,015.00

W.W. Grainger (NYSE:GWW) had its target price lifted by JPMorgan Chase & Co. from $1,000.00 to $1,015.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other brokerages have also weighed in on GWW. Stephens upgraded shares of W.W. Grainger from an equal weight rating to an overweight rating and raised their target price for the company from $1,000.00 to $1,250.00 in a research report on Monday, April 29th. Baird R W lowered W.W. Grainger from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. Loop Capital cut their price target on W.W. Grainger from $1,000.00 to $975.00 and set a hold rating on the stock in a research note on Monday, April 29th. StockNews.com downgraded W.W. Grainger from a buy rating to a hold rating in a research note on Wednesday, May 29th. Finally, Robert W. Baird downgraded shares of W.W. Grainger from an outperform rating to a neutral rating and cut their target price for the stock from $1,000.00 to $975.00 in a research report on Wednesday, May 29th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $1,017.13.

W.W. Grainger Price Performance

Shares of GWW stock traded up $5.50 during trading on Friday, hitting $958.29. The company had a trading volume of 115,902 shares, compared to its average volume of 246,223. The stock’s 50-day moving average price is $924.85 and its 200 day moving average price is $946.05. W.W. Grainger has a one year low of $674.41 and a one year high of $1,034.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 2.30. The firm has a market capitalization of $47.02 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17.

W.W. Grainger (NYSE:GWW) last released its earnings results on Thursday, August 1st. The industrial products company reported $9.76 EPS for the quarter, beating the consensus estimate of $9.58 by $0.18. W.W. Grainger had a net margin of 10.86% and a return on equity of 53.25%. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same period last year, the firm earned $9.28 EPS. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts expect that W.W. Grainger will post 39.1 EPS for the current fiscal year.

W.W. Grainger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Monday, August 12th will be issued a dividend of $2.05 per share. The ex-dividend date is Monday, August 12th. This represents a $8.20 dividend on an annualized basis and a yield of 0.86%. W.W. Grainger’s payout ratio is currently 22.64%.

Insider Activity

In related news, SVP Matt Fortin sold 511 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $915.20, for a total transaction of $467,667.20. Following the completion of the sale, the senior vice president now owns 1,848 shares of the company’s stock, valued at $1,691,289.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On W.W. Grainger

A number of institutional investors have recently modified their holdings of the company. National Bank of Canada FI increased its position in shares of W.W. Grainger by 97.7% during the second quarter. National Bank of Canada FI now owns 27,993 shares of the industrial products company’s stock worth $25,086,000 after acquiring an additional 13,835 shares in the last quarter. Impact Partnership Wealth LLC increased its holdings in W.W. Grainger by 72.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 362 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 152 shares in the last quarter. Strategy Asset Managers LLC raised its stake in shares of W.W. Grainger by 27.7% in the second quarter. Strategy Asset Managers LLC now owns 1,991 shares of the industrial products company’s stock worth $1,796,000 after purchasing an additional 432 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in shares of W.W. Grainger in the second quarter valued at approximately $244,000. Finally, Founders Financial Securities LLC boosted its position in shares of W.W. Grainger by 1.9% during the second quarter. Founders Financial Securities LLC now owns 1,192 shares of the industrial products company’s stock valued at $1,075,000 after buying an additional 22 shares during the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

About W.W. Grainger

W.W. Grainger, Inc, together with its subsidiaries, distributes maintenance, repair, and operating products and services primarily in North America, Japan, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. The company provides safety, security, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance, and metalworking and hand tools.