Citigroup Inc. Increases Stock Position in W.W. Grainger, Inc. (NYSE:GWW)

Citigroup Inc. raised its holdings in W.W. Grainger, Inc. (NYSE:GWW) by 43.5% during the 1st quarter, Holdings Channel reports. The firm owned 65,159 shares of the industrial products company’s stock after purchasing an additional 19,746 shares during the quarter. Citigroup Inc.’s holdings in W.W. Grainger were worth $64,366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GWW. Golden State Wealth Management LLC raised its position in shares of W.W. Grainger by 1,685.7% in the first quarter. Golden State Wealth Management LLC now owns 125 shares of the industrial products company’s stock valued at $123,000 after buying an additional 118 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of W.W. Grainger by 5.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,095 shares of the industrial products company’s stock valued at $5,033,000 after buying an additional 256 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of W.W. Grainger by 116.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 33,917 shares of the industrial products company’s stock valued at $33,506,000 after buying an additional 18,216 shares during the last quarter. GAMMA Investing LLC raised its position in shares of W.W. Grainger by 2.2% in the first quarter. GAMMA Investing LLC now owns 701 shares of the industrial products company’s stock valued at $692,000 after buying an additional 15 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of W.W. Grainger by 8.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,970 shares of the industrial products company’s stock valued at $6,796,000 after buying an additional 564 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Insider Buying and Selling at W.W. Grainger

In other W.W. Grainger news, VP Krantz Nancy L. Berardinelli sold 280 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $1,075.20, for a total transaction of $301,056.00. Following the transaction, the vice president directly owned 3,369 shares in the company, valued at $3,622,348.80. This represents a 7.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 6.10% of the company’s stock.

W.W. Grainger Price Performance

GWW opened at $948.75 on Friday. The company has a market cap of $45.38 billion, a P/E ratio of 24.07, a P/E/G ratio of 2.76 and a beta of 1.18. The company has a 50 day moving average of $1,037.69 and a two-hundred day moving average of $1,028.23. The company has a quick ratio of 1.64, a current ratio of 2.82 and a debt-to-equity ratio of 0.57. W.W. Grainger, Inc. has a 52-week low of $893.99 and a 52-week high of $1,227.66.

W.W. Grainger (NYSE:GWW) last announced its earnings results on Friday, August 1st. The industrial products company reported $9.97 earnings per share for the quarter, missing the consensus estimate of $10.07 by ($0.10). The firm had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.52 billion. W.W. Grainger had a net margin of 10.99% and a return on equity of 49.63%. W.W. Grainger’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $9.76 earnings per share. On average, analysts expect that W.W. Grainger, Inc. will post 40.3 earnings per share for the current year.

W.W. Grainger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Monday, August 11th will be paid a $2.26 dividend. The ex-dividend date is Monday, August 11th. This represents a $9.04 annualized dividend and a dividend yield of 1.0%. W.W. Grainger’s dividend payout ratio is 22.94%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Loop Capital cut their price objective on shares of W.W. Grainger from $1,000.00 to $950.00 and set a “hold” rating for the company in a research report on Monday, August 4th. Morgan Stanley cut their price objective on shares of W.W. Grainger from $1,215.00 to $1,160.00 and set an “equal weight” rating for the company in a research report on Friday, July 11th. JPMorgan Chase & Co. upped their price target on shares of W.W. Grainger from $1,100.00 to $1,125.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 27th. Finally, Royal Bank Of Canada dropped their price target on shares of W.W. Grainger from $1,176.00 to $1,007.00 and set a “sector perform” rating for the company in a research report on Monday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, W.W. Grainger currently has a consensus rating of “Hold” and an average price target of $1,080.38.

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.