W.W. Grainger (NYSE:GWW) Issues Quarterly Earnings Results

W.W. Grainger (NYSE:GWW - Get Free Report) posted its quarterly earnings results on Thursday. The industrial products company reported $9.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.98 by ($0.11), Briefing.com reports. W.W. Grainger had a net margin of 10.86% and a return on equity of 53.25%. The firm had revenue of $4.39 billion for the quarter, compared to analysts' expectations of $4.40 billion. During the same period last year, the firm posted $9.43 EPS. W.W. Grainger's revenue was up 4.3% on a year-over-year basis. W.W. Grainger updated its FY24 guidance to $38.65-39.35 EPS and its FY 2024 guidance to 38.650-39.350 EPS.

W.W. Grainger Stock Down 0.4 %

NYSE GWW traded down $4.16 on Friday, hitting $1,105.07. 248,255 shares of the stock traded hands, compared to its average volume of 234,978. The stock has a 50-day moving average of $1,035.68 and a 200 day moving average of $971.79. W.W. Grainger has a twelve month low of $747.00 and a twelve month high of $1,130.01. The company has a market capitalization of $53.96 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 3.07 and a beta of 1.16. The company has a current ratio of 2.30, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50.

W.W. Grainger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 11th will be paid a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, November 8th. W.W. Grainger's payout ratio is currently 22.50%.

Insider Buying and Selling at W.W. Grainger

In other W.W. Grainger news, CEO Donald G. Macpherson sold 12,992 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $1,037.68, for a total transaction of $13,481,538.56. Following the sale, the chief executive officer now owns 98,567 shares in the company, valued at $102,281,004.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Donald G. Macpherson sold 27,502 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1,000.82, for a total value of $27,524,551.64. Following the sale, the chief executive officer now owns 111,559 shares of the company's stock, valued at approximately $111,650,478.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Donald G. Macpherson sold 12,992 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $1,037.68, for a total value of $13,481,538.56. Following the completion of the sale, the chief executive officer now directly owns 98,567 shares in the company, valued at approximately $102,281,004.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GWW shares. Royal Bank of Canada boosted their price target on W.W. Grainger from $1,018.00 to $1,125.00 and gave the company a "sector perform" rating in a research report on Friday. Morgan Stanley started coverage on W.W. Grainger in a research report on Friday, September 6th. They issued an "equal weight" rating and a $990.00 target price for the company. Northcoast Research started coverage on W.W. Grainger in a research report on Tuesday. They issued a "neutral" rating for the company. Oppenheimer downgraded W.W. Grainger from an "outperform" rating to a "market perform" rating in a research report on Thursday, October 17th. Finally, Wolfe Research raised W.W. Grainger to a "hold" rating in a research report on Sunday, September 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $1,058.50.

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.