Cove Private Wealth LLC Purchases New Shares in W.W. Grainger, Inc. (NYSE:GWW)

Cove Private Wealth LLC bought a new position in W.W. Grainger, Inc. (NYSE:GWW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 390 shares of the industrial products company's stock, valued at approximately $411,000.

Several other hedge funds have also recently modified their holdings of GWW. HWG Holdings LP purchased a new position in W.W. Grainger in the 2nd quarter worth about $26,000. GHP Investment Advisors Inc. raised its holdings in shares of W.W. Grainger by 250.0% during the third quarter. GHP Investment Advisors Inc. now owns 28 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 20 shares during the last quarter. Larson Financial Group LLC lifted its position in W.W. Grainger by 111.1% during the third quarter. Larson Financial Group LLC now owns 38 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 20 shares during the period. Fortitude Family Office LLC boosted its holdings in W.W. Grainger by 38.9% in the third quarter. Fortitude Family Office LLC now owns 50 shares of the industrial products company's stock worth $52,000 after purchasing an additional 14 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in W.W. Grainger in the 3rd quarter worth approximately $75,000. Hedge funds and other institutional investors own 80.70% of the company's stock.

W.W. Grainger Price Performance

Shares of GWW traded up $2.70 during mid-day trading on Monday, reaching $1,113.05. The stock had a trading volume of 697,483 shares, compared to its average volume of 211,983. The business has a fifty day moving average of $1,133.37 and a 200 day moving average of $1,052.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.68 and a current ratio of 2.59. The firm has a market cap of $54.21 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.70 and a beta of 1.18. W.W. Grainger, Inc. has a 12 month low of $855.01 and a 12 month high of $1,227.66.

W.W. Grainger (NYSE:GWW - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $9.87 earnings per share for the quarter, missing analysts' consensus estimates of $9.98 by ($0.11). W.W. Grainger had a net margin of 10.80% and a return on equity of 51.78%. The firm had revenue of $4.39 billion for the quarter, compared to analysts' expectations of $4.40 billion. During the same quarter last year, the firm posted $9.43 EPS. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts predict that W.W. Grainger, Inc. will post 38.97 EPS for the current year.

W.W. Grainger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 11th were given a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, November 8th. W.W. Grainger's dividend payout ratio is currently 22.23%.

Insider Activity at W.W. Grainger

In related news, CFO Deidra C. Merriwether sold 704 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $1,105.59, for a total transaction of $778,335.36. Following the completion of the transaction, the chief financial officer now directly owns 9,509 shares of the company's stock, valued at approximately $10,513,055.31. This trade represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paige K. Robbins sold 9,577 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $1,117.84, for a total transaction of $10,705,553.68. Following the completion of the sale, the vice president now owns 4,379 shares in the company, valued at approximately $4,895,021.36. The trade was a 68.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,406 shares of company stock valued at $11,634,643. 9.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GWW. Royal Bank of Canada raised their price target on W.W. Grainger from $1,018.00 to $1,125.00 and gave the stock a "sector perform" rating in a research note on Friday, November 1st. Wolfe Research raised W.W. Grainger to a "hold" rating in a research report on Sunday, September 22nd. Bank of America started coverage on shares of W.W. Grainger in a research report on Monday, October 7th. They set an "underperform" rating and a $925.00 price target for the company. Oppenheimer cut shares of W.W. Grainger from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 17th. Finally, Robert W. Baird upgraded shares of W.W. Grainger from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $975.00 to $1,230.00 in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong 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 $1,140.56.

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.