Illinois Municipal Retirement Fund Cuts Stock Holdings in W.W. Grainger, Inc. (NYSE:GWW)

Illinois Municipal Retirement Fund cut its stake in shares of W.W. Grainger, Inc. (NYSE:GWW) by 7.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,746 shares of the industrial products company’s stock after selling 1,609 shares during the period. Illinois Municipal Retirement Fund’s holdings in W.W. Grainger were worth $18,718,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GWW. Bfsg LLC purchased a new stake in shares of W.W. Grainger in the first quarter worth about $26,000. Valued Wealth Advisors LLC boosted its holdings in W.W. Grainger by 170.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 27 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 17 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of W.W. Grainger during the fourth quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. lifted its position in shares of W.W. Grainger by 275.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 45 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 33 shares in the last quarter. Finally, Washington Trust Advisors Inc. boosted its stake in shares of W.W. Grainger by 225.0% in the first quarter. Washington Trust Advisors Inc. now owns 39 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 27 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GWW. Erste Group Bank reissued a “hold” rating on shares of W.W. Grainger in a research report on Friday, June 14th. JPMorgan Chase & Co. increased their target price on W.W. Grainger from $1,000.00 to $1,015.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Morgan Stanley began coverage on shares of W.W. Grainger in a research note on Friday. They issued an “equal weight” rating and a $990.00 price target for the company. Baird R W downgraded shares of W.W. Grainger from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Robert W. Baird downgraded shares of W.W. Grainger from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $1,000.00 to $975.00 in a research report on Wednesday, May 29th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1,014.11.

W.W. Grainger Price Performance

Shares of NYSE:GWW traded up $9.45 during trading on Friday, reaching $947.93. The company had a trading volume of 174,308 shares, compared to its average volume of 241,558. The firm’s fifty day moving average is $951.88 and its 200 day moving average is $953.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.30. The firm has a market capitalization of $46.51 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 1.96 and a beta of 1.17. W.W. Grainger, Inc. has a twelve month low of $674.41 and a twelve month high of $1,034.18.

W.W. Grainger (NYSE:GWW) last released its earnings results on Thursday, August 1st. The industrial products company reported $9.76 earnings per share for the quarter, topping analysts’ consensus estimates of $9.58 by $0.18. W.W. Grainger had a return on equity of 53.25% and a net margin of 10.86%. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the prior year, the firm posted $9.28 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts forecast that W.W. Grainger, Inc. will post 38.71 EPS for the current year.

W.W. Grainger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Monday, August 12th were given a $2.05 dividend. This represents a $8.20 annualized dividend and a yield of 0.87%. The ex-dividend date was Monday, August 12th. W.W. Grainger’s dividend payout ratio (DPR) is presently 22.64%.

Insider Buying and Selling at W.W. Grainger

In other news, SVP Matt Fortin sold 511 shares of W.W. Grainger stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $915.20, for a total value of $467,667.20. Following the transaction, the senior vice president now owns 1,848 shares of the company’s stock, valued at approximately $1,691,289.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.50% of the stock is owned by corporate insiders.

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.