Oppenheimer Asset Management Inc. Sells 428 Shares of W.W. Grainger, Inc. (NYSE:GWW)

Oppenheimer Asset Management Inc. reduced its position in shares of W.W. Grainger, Inc. (NYSE:GWW) by 9.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,087 shares of the industrial products company’s stock after selling 428 shares during the period. Oppenheimer Asset Management Inc.’s holdings in W.W. Grainger were worth $4,246,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GWW. Massachusetts Financial Services Co. MA bought a new stake in W.W. Grainger in the second quarter worth about $281,104,000. Clearbridge Investments LLC raised its position in W.W. Grainger by 17.4% in the first quarter. Clearbridge Investments LLC now owns 1,148,051 shares of the industrial products company’s stock worth $1,167,913,000 after acquiring an additional 169,897 shares during the period. Swedbank AB bought a new stake in W.W. Grainger in the first quarter worth about $159,365,000. International Assets Investment Management LLC raised its position in W.W. Grainger by 92,754.3% in the third quarter. International Assets Investment Management LLC now owns 87,283 shares of the industrial products company’s stock worth $906,700,000 after acquiring an additional 87,189 shares during the period. Finally, Renaissance Technologies LLC raised its position in W.W. Grainger by 563.3% in the second quarter. Renaissance Technologies LLC now owns 72,300 shares of the industrial products company’s stock worth $65,232,000 after acquiring an additional 61,400 shares during the period. 80.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other W.W. Grainger news, VP Paige K. Robbins sold 9,577 shares of the business’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 owns 4,379 shares of the company’s stock, valued at $4,895,021.36. The trade was a 68.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Laurie R. Thomson sold 125 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,206.03, for a total transaction of $150,753.75. Following the completion of the sale, the vice president now directly owns 675 shares of the company’s stock, valued at $814,070.25. This trade represents a 15.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,900 shares of company stock valued at $52,640,733 in the last quarter. Corporate insiders own 9.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Northcoast Research assumed coverage on shares of W.W. Grainger in a research report on Tuesday, October 29th. They issued a “neutral” rating on the stock. StockNews.com raised shares of W.W. Grainger from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Loop Capital boosted their price target on shares of W.W. Grainger from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Oppenheimer lowered shares of W.W. Grainger from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley initiated coverage on shares of W.W. Grainger in a research report on Friday, September 6th. They issued an “equal weight” rating and a $990.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $1,086.50.

W.W. Grainger Price Performance

Shares of NYSE:GWW opened at $1,178.33 on Friday. The company has a 50 day moving average of $1,078.55 and a 200 day moving average of $988.02. The stock has a market cap of $57.38 billion, a P/E ratio of 31.94, a P/E/G ratio of 3.32 and a beta of 1.15. W.W. Grainger, Inc. has a 12 month low of $772.13 and a 12 month high of $1,227.66. The company has a current ratio of 2.59, a quick ratio of 1.68 and a debt-to-equity ratio of 0.59.

W.W. Grainger (NYSE:GWW) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $9.87 EPS for the quarter, missing the consensus estimate of $9.98 by ($0.11). The firm had revenue of $4.39 billion for 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 was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $9.43 EPS. As a group, sell-side analysts forecast that W.W. Grainger, Inc. will post 38.91 EPS for the current fiscal year.

W.W. Grainger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 11th will be paid a $2.05 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $8.20 dividend on an annualized basis and a yield of 0.70%. W.W. Grainger’s dividend payout ratio is presently 22.23%.

W.W. Grainger Company Profile

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.