JPMorgan Chase & Co. Raises W.W. Grainger (NYSE:GWW) Price Target to $1,015.00

W.W. Grainger (NYSE:GWW) had its price objective upped by JPMorgan Chase & Co. from $1,000.00 to $1,015.00 in a report published on Friday morning, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

GWW has been the topic of a number of other reports. Loop Capital reduced their price target on shares of W.W. Grainger from $1,000.00 to $975.00 and set a hold rating on the stock in a research note on Monday, April 29th. Baird R W cut shares of W.W. Grainger from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. Stephens upgraded shares of W.W. Grainger from an equal weight rating to an overweight rating and lifted their price objective for the company from $1,000.00 to $1,250.00 in a report on Monday, April 29th. StockNews.com cut shares of W.W. Grainger from a buy rating to a hold rating in a report on Wednesday, May 29th. Finally, Robert W. Baird cut shares of W.W. Grainger from an outperform rating to a neutral rating and dropped their price objective for the company from $1,000.00 to $975.00 in a report on Wednesday, May 29th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, W.W. Grainger currently has a consensus rating of Hold and a consensus price target of $1,017.13.

W.W. Grainger Price Performance

W.W. Grainger stock opened at $952.37 on Friday. The company’s 50 day simple moving average is $924.85 and its 200-day simple moving average is $944.58. The company has a market capitalization of $46.73 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. W.W. Grainger has a 1 year low of $674.41 and a 1 year high of $1,034.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 2.30.

W.W. Grainger (NYSE:GWW) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $9.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.58 by $0.18. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.35 billion. W.W. Grainger had a net margin of 10.86% and a return on equity of 53.25%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $9.28 EPS. As a group, equities research analysts expect that W.W. Grainger will post 39.1 earnings per share for the current year.

W.W. Grainger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Monday, August 12th will be issued a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, August 12th. W.W. Grainger’s dividend payout ratio (DPR) is presently 22.64%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its position in shares of W.W. Grainger by 97.7% during the 2nd quarter. National Bank of Canada FI now owns 27,993 shares of the industrial products company’s stock worth $25,086,000 after buying an additional 13,835 shares during the last quarter. Impact Partnership Wealth LLC lifted its position in shares of W.W. Grainger by 72.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 362 shares of the industrial products company’s stock worth $327,000 after buying an additional 152 shares during the last quarter. Strategy Asset Managers LLC lifted its position in shares of W.W. Grainger by 27.7% during the 2nd quarter. Strategy Asset Managers LLC now owns 1,991 shares of the industrial products company’s stock worth $1,796,000 after buying an additional 432 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of W.W. Grainger during the 2nd quarter worth approximately $244,000. Finally, Founders Financial Securities LLC lifted its position in shares of W.W. Grainger by 1.9% during the 2nd quarter. Founders Financial Securities LLC now owns 1,192 shares of the industrial products company’s stock worth $1,075,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

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.