Oppenheimer Asset Management Inc. increased its stake in W W Grainger Inc (NYSE:GWW) by 37.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,406 shares of the industrial products company’s stock after purchasing an additional 651 shares during the period. Oppenheimer Asset Management Inc.’s holdings in W W Grainger were worth $679,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC lifted its stake in W W Grainger by 12.9% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,164,524 shares of the industrial products company’s stock valued at $416,213,000 after acquiring an additional 133,501 shares during the period. Eagle Asset Management Inc. lifted its stake in W W Grainger by 6.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 142,488 shares of the industrial products company’s stock valued at $50,926,000 after acquiring an additional 8,980 shares during the period. Eaton Vance Management lifted its stake in W W Grainger by 45.4% during the 3rd quarter. Eaton Vance Management now owns 12,895 shares of the industrial products company’s stock valued at $4,609,000 after acquiring an additional 4,024 shares during the period. First Midwest Bank Trust Division lifted its stake in W W Grainger by 0.8% during the 4th quarter. First Midwest Bank Trust Division now owns 6,815 shares of the industrial products company’s stock valued at $1,924,000 after acquiring an additional 52 shares during the period. Finally, XR Securities LLC acquired a new stake in W W Grainger during the 4th quarter valued at approximately $1,694,000. Institutional investors own 83.73% of the company’s stock.
Several analysts have commented on the stock. Zacks Investment Research cut shares of W W Grainger from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Oppenheimer decreased their price objective on shares of W W Grainger from $410.00 to $365.00 and set an “outperform” rating for the company in a research note on Wednesday, October 17th. Buckingham Research assumed coverage on shares of W W Grainger in a research note on Monday, December 10th. They set a “neutral” rating and a $325.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of W W Grainger to $240.00 and gave the company an “underperform” rating in a research note on Friday, January 25th. They noted that the move was a valuation call. Finally, Morgan Stanley assumed coverage on shares of W W Grainger in a report on Tuesday, December 18th. They set an “underweight” rating and a $265.00 target price for the company. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $308.01.
W W Grainger (NYSE:GWW) last posted its earnings results on Thursday, January 24th. The industrial products company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.36. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.81 billion. W W Grainger had a net margin of 6.95% and a return on equity of 46.52%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.94 EPS. Analysts expect that W W Grainger Inc will post 18.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Monday, February 11th will be issued a $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, February 8th. W W Grainger’s payout ratio is presently 32.57%.
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About W W Grainger
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) supplies; and other related products and services that are used by businesses and institutions in the United States, Canada, Europe, Asia, and Latin America. The company offers material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, metalworking tools, and various other products.
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