Oppenheimer Asset Management Inc. Reduces Stock Holdings in W.W. Grainger, Inc. (NYSE:GWW)

Oppenheimer Asset Management Inc. reduced its position in shares of W.W. Grainger, Inc. (NYSE:GWW) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,072 shares of the industrial products company’s stock after selling 30 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in W.W. Grainger were worth $4,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cyrus J. Lawrence LLC purchased a new stake in W.W. Grainger during the fourth quarter valued at approximately $31,000. Investment Management Corp VA ADV purchased a new stake in shares of W.W. Grainger in the 4th quarter worth $35,000. OFI Invest Asset Management bought a new position in W.W. Grainger in the 4th quarter worth $42,000. Atala Financial Inc bought a new position in W.W. Grainger in the 4th quarter worth $43,000. Finally, Quarry LP purchased a new position in W.W. Grainger during the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wolfe Research cut W.W. Grainger from a “peer perform” rating to an “underperform” rating and set a $966.00 price target for the company. in a research report on Thursday, April 3rd. Royal Bank Of Canada increased 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 report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of W.W. Grainger from $1,100.00 to $1,125.00 and gave the company a “neutral” rating in a report on Tuesday, May 27th. Finally, William Blair raised shares of W.W. Grainger from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, eight have assigned 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.com, the stock presently has an average rating of “Hold” and an average price target of $1,123.13.

Insider Transactions at W.W. Grainger

In related news, CFO Deidra C. Merriwether sold 1,164 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $997.12, for a total value of $1,160,647.68. Following the completion of the transaction, the chief financial officer now owns 10,235 shares of the company’s stock, valued at approximately $10,205,523.20. This trade represents a 10.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Krantz Nancy L. Berardinelli sold 280 shares of W.W. Grainger stock in a transaction dated 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 transaction, the vice president now owns 3,369 shares of the company’s stock, valued at approximately $3,622,348.80. This represents a 7.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,205 shares of company stock valued at $2,255,320 in the last ninety days. Corporate insiders own 6.10% of the company’s stock.

W.W. Grainger Trading Down 1.6%

Shares of GWW opened at $1,024.37 on Thursday. The firm has a market cap of $49.21 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 2.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.74 and a quick ratio of 1.60. W.W. Grainger, Inc. has a 1 year low of $888.75 and a 1 year high of $1,227.66. The company has a 50 day simple moving average of $1,055.65 and a two-hundred day simple moving average of $1,044.43.

W.W. Grainger (NYSE:GWW) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $9.51 by $0.35. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.31 billion. W.W. Grainger had a return on equity of 51.28% and a net margin of 11.08%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $9.62 earnings per share. On average, equities analysts expect that W.W. Grainger, Inc. will post 40.3 earnings per share for the current fiscal year.

W.W. Grainger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Monday, May 12th were paid a $2.26 dividend. This is an increase from W.W. Grainger’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, May 12th. This represents a $9.04 dividend on an annualized basis and a yield of 0.88%. W.W. Grainger’s payout ratio is presently 23.21%.

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.