Panagora Asset Management Inc. Cuts Stock Position in W.W. Grainger, Inc. (NYSE:GWW)

Panagora Asset Management Inc. lessened its holdings in shares of W.W. Grainger, Inc. (NYSE:GWWGet Rating) by 94.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,170 shares of the industrial products company’s stock after selling 71,421 shares during the quarter. Panagora Asset Management Inc.’s holdings in W.W. Grainger were worth $2,151,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its stake in shares of W.W. Grainger by 3.4% in the fourth quarter. State Street Corp now owns 2,312,747 shares of the industrial products company’s stock valued at $1,198,558,000 after acquiring an additional 76,183 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of W.W. Grainger by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 859,371 shares of the industrial products company’s stock valued at $444,380,000 after buying an additional 58,449 shares during the period. Nuveen Asset Management LLC grew its position in shares of W.W. Grainger by 12.1% during the fourth quarter. Nuveen Asset Management LLC now owns 633,138 shares of the industrial products company’s stock worth $328,118,000 after buying an additional 68,577 shares in the last quarter. Norges Bank purchased a new stake in shares of W.W. Grainger during the fourth quarter worth approximately $214,942,000. Finally, Eagle Asset Management Inc. raised its holdings in shares of W.W. Grainger by 1.5% in the 1st quarter. Eagle Asset Management Inc. now owns 306,428 shares of the industrial products company’s stock valued at $158,052,000 after purchasing an additional 4,456 shares in the last quarter. Hedge funds and other institutional investors own 71.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GWW. Robert W. Baird increased their target price on shares of W.W. Grainger from $505.00 to $600.00 and gave the company an “outperform” rating in a research report on Monday, August 1st. Stephens boosted their price objective on W.W. Grainger from $565.00 to $600.00 and gave the company an “equal weight” rating in a research note on Monday, August 1st. Royal Bank of Canada lifted their target price on shares of W.W. Grainger from $399.00 to $422.00 and gave the company an “underperform” rating in a report on Monday, August 1st. StockNews.com cut shares of W.W. Grainger from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 16th. Finally, Morgan Stanley boosted their price target on W.W. Grainger from $421.00 to $448.00 and gave the company an “underweight” rating in a research report on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, W.W. Grainger currently has an average rating of “Hold” and an average price target of $518.57.

Insider Activity

In related news, VP Paige K. Robbins sold 2,330 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $500.03, for a total value of $1,165,069.90. Following the sale, the vice president now directly owns 11,996 shares in the company, valued at approximately $5,998,359.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.00% of the company’s stock.

W.W. Grainger Price Performance

W.W. Grainger stock opened at $573.78 on Thursday. The business has a fifty day moving average of $524.90 and a two-hundred day moving average of $500.57. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.44 and a current ratio of 2.58. The company has a market cap of $29.19 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 1.52 and a beta of 1.21. W.W. Grainger, Inc. has a one year low of $391.16 and a one year high of $588.62.

W.W. Grainger (NYSE:GWWGet Rating) last issued its earnings results on Friday, July 29th. The industrial products company reported $7.19 earnings per share for the quarter, topping the consensus estimate of $6.65 by $0.54. W.W. Grainger had a net margin of 9.23% and a return on equity of 57.59%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the business posted $4.27 earnings per share. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, analysts predict that W.W. Grainger, Inc. will post 28.03 earnings per share for the current fiscal year.

W.W. Grainger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 8th were given a dividend of $1.72 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $6.88 dividend on an annualized basis and a yield of 1.20%. W.W. Grainger’s payout ratio is 27.14%.

W.W. Grainger Company Profile

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W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) products and services in the United States, Japan, Canada, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. It offers safety and security supplies, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance supplies, and metalworking and hand tools.

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

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