JPMorgan Chase & Co. Issues Positive Forecast for W.W. Grainger (NYSE:GWW) Stock Price

W.W. Grainger (NYSE:GWW) had its price target increased by JPMorgan Chase & Co. from $1,100.00 to $1,125.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other research firms have also weighed in on GWW. William Blair upgraded shares of W.W. Grainger from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. Wolfe Research lowered shares of W.W. Grainger from a “peer perform” rating to an “underperform” rating and set a $966.00 target price on the stock. in a research note on Thursday, April 3rd. Finally, Royal Bank of Canada upped their target price on shares of W.W. Grainger from $1,097.00 to $1,144.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $1,123.13.

W.W. Grainger Stock Up 1.6%

Shares of NYSE:GWW opened at $1,089.41 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.49 and a quick ratio of 1.49. The firm has a market capitalization of $52.33 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. The firm’s 50-day moving average is $1,016.39 and its two-hundred day moving average is $1,062.18. W.W. Grainger has a 1 year low of $874.98 and a 1 year high of $1,227.66.

W.W. Grainger (NYSE:GWW) last released its earnings results on Thursday, May 1st. The industrial products company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $9.51 by $0.35. W.W. Grainger had a net margin of 11.12% and a return on equity of 52.43%. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the firm earned $9.62 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts predict that W.W. Grainger will post 40.3 EPS for the current year.

W.W. Grainger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Monday, May 12th will be issued a $2.26 dividend. This is an increase from W.W. Grainger’s previous quarterly dividend of $2.05. This represents a $9.04 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Monday, May 12th. W.W. Grainger’s dividend payout ratio is presently 23.21%.

Insider Activity

In other news, VP Krantz Nancy L. Berardinelli sold 280 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $1,075.20, for a total value of $301,056.00. Following the completion of the sale, the vice president now directly owns 3,369 shares of the company’s stock, valued at approximately $3,622,348.80. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Deidra C. Merriwether sold 1,164 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $997.12, for a total value of $1,160,647.68. Following the sale, the chief financial officer now directly owns 10,235 shares of the company’s stock, valued at approximately $10,205,523.20. This represents a 10.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,205 shares of company stock valued at $2,255,320. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On W.W. Grainger

A number of large investors have recently bought and sold shares of GWW. N.E.W. Advisory Services LLC purchased a new stake in shares of W.W. Grainger in the first quarter valued at about $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of W.W. Grainger in the fourth quarter valued at about $31,000. Iron Horse Wealth Management LLC boosted its holdings in shares of W.W. Grainger by 43.5% in the fourth quarter. Iron Horse Wealth Management LLC now owns 33 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 10 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of W.W. Grainger in the fourth quarter valued at about $35,000. Finally, OFI Invest Asset Management purchased a new stake in shares of W.W. Grainger in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

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.