Synovus Financial Corp Trims Stock Position in W.W. Grainger, Inc. (NYSE:GWW)

Synovus Financial Corp decreased its stake in W.W. Grainger, Inc. (NYSE:GWW) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,073 shares of the industrial products company’s stock after selling 428 shares during the period. Synovus Financial Corp’s holdings in W.W. Grainger were worth $7,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GWW. HWG Holdings LP acquired a new position in W.W. Grainger in the second quarter valued at $26,000. GHP Investment Advisors Inc. lifted its holdings in shares of W.W. Grainger by 250.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 28 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of W.W. Grainger by 111.1% in the 3rd quarter. Larson Financial Group LLC now owns 38 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 20 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of W.W. Grainger in the 2nd quarter valued at about $42,000. Finally, Fortitude Family Office LLC grew its stake in W.W. Grainger by 38.9% during the 3rd quarter. Fortitude Family Office LLC now owns 50 shares of the industrial products company’s stock worth $52,000 after buying an additional 14 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

W.W. Grainger Trading Down 0.5 %

Shares of W.W. Grainger stock opened at $1,142.87 on Friday. The firm has a market cap of $55.66 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 3.19 and a beta of 1.16. W.W. Grainger, Inc. has a 52-week low of $800.97 and a 52-week high of $1,227.66. The company’s 50-day simple moving average is $1,144.43 and its 200-day simple moving average is $1,020.90. The company has a quick ratio of 1.68, a current ratio of 2.59 and a debt-to-equity ratio of 0.59.

W.W. Grainger (NYSE:GWW) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $9.87 earnings per share for the quarter, missing analysts’ consensus estimates of $9.98 by ($0.11). The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.40 billion. W.W. Grainger had a net margin of 10.80% and a return on equity of 51.78%. W.W. Grainger’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.43 EPS. As a group, equities research analysts anticipate that W.W. Grainger, Inc. will post 38.94 earnings per share for the current year.

W.W. Grainger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 11th were given a $2.05 dividend. This represents a $8.20 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, November 8th. W.W. Grainger’s payout ratio is 22.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GWW. Baird R W upgraded W.W. Grainger from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Robert W. Baird upgraded shares of W.W. Grainger from a “neutral” rating to an “outperform” rating and upped their price target for the company from $975.00 to $1,230.00 in a research report on Wednesday, October 16th. Loop Capital raised their price objective on shares of W.W. Grainger from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Bank of America began coverage on shares of W.W. Grainger in a research note on Monday, October 7th. They issued an “underperform” rating and a $925.00 price objective on the stock. Finally, Royal Bank of Canada increased their target price on shares of W.W. Grainger from $1,018.00 to $1,125.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, W.W. Grainger has an average rating of “Hold” and an average target price of $1,109.00.

Insiders Place Their Bets

In related news, CEO Donald G. Macpherson sold 27,502 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1,000.82, for a total value of $27,524,551.64. Following the sale, the chief executive officer now owns 111,559 shares in the company, valued at $111,650,478.38. This represents a 19.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Paige K. Robbins sold 9,577 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $1,117.84, for a total value of $10,705,553.68. Following the completion of the transaction, the vice president now directly owns 4,379 shares of the company’s stock, valued at $4,895,021.36. The trade was a 68.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,900 shares of company stock worth $52,640,733. 9.50% of the stock is owned by corporate insiders.

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.