State Farm Mutual Automobile Insurance Co. boosted its position in W.W. Grainger, Inc. (NYSE:GWW) by 102.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,570 shares of the industrial products company’s stock after buying an additional 21,017 shares during the period. State Farm Mutual Automobile Insurance Co. owned approximately 0.07% of W.W. Grainger worth $7,505,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of GWW. BlackRock Inc. grew its position in W.W. Grainger by 1,509.4% in the 1st quarter. BlackRock Inc. now owns 3,417,297 shares of the industrial products company’s stock valued at $795,411,000 after buying an additional 3,204,962 shares during the last quarter. Longview Partners Guernsey LTD grew its position in W.W. Grainger by 32.6% in the 2nd quarter. Longview Partners Guernsey LTD now owns 3,755,706 shares of the industrial products company’s stock valued at $678,018,000 after buying an additional 923,948 shares during the last quarter. Wellington Management Group LLP purchased a new position in W.W. Grainger in the 1st quarter valued at $147,000,000. APG Asset Management N.V. grew its position in W.W. Grainger by 655.0% in the 2nd quarter. APG Asset Management N.V. now owns 462,647 shares of the industrial products company’s stock valued at $83,522,000 after buying an additional 401,371 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in W.W. Grainger in the 1st quarter valued at $69,991,000. Hedge funds and other institutional investors own 80.57% of the company’s stock.
GWW has been the topic of a number of analyst reports. Credit Suisse Group upgraded shares of W.W. Grainger to a “hold” rating and set a $175.00 price objective on the stock in a research report on Wednesday, July 19th. Deutsche Bank AG lowered shares of W.W. Grainger from a “hold” rating to a “sell” rating and lowered their price objective for the company from $246.00 to $145.00 in a research report on Thursday, May 18th. Royal Bank Of Canada lowered their price objective on shares of W.W. Grainger from $166.00 to $156.00 and set an “underperform” rating on the stock in a research report on Monday, May 15th. Morgan Stanley lowered their price objective on shares of W.W. Grainger from $174.00 to $172.00 and set an “underweight” rating on the stock in a research report on Thursday, July 20th. Finally, BidaskClub lowered shares of W.W. Grainger from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Five research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $179.42.
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W.W. Grainger, Inc. (NYSE:GWW) traded up 1.47% on Friday, hitting $164.97. The stock had a trading volume of 760,377 shares. W.W. Grainger, Inc. has a one year low of $155.00 and a one year high of $262.71. The company has a market cap of $9.52 billion, a PE ratio of 19.02 and a beta of 0.74. The stock has a 50-day moving average of $164.27 and a 200-day moving average of $193.04.
W.W. Grainger (NYSE:GWW) last released its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.65 by $0.09. W.W. Grainger had a return on equity of 34.03% and a net margin of 5.08%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the prior year, the business posted $2.89 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts expect that W.W. Grainger, Inc. will post $10.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were paid a $1.28 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $5.12 annualized dividend and a dividend yield of 3.10%. W.W. Grainger’s payout ratio is 59.12%.
About W.W. Grainger
W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.
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