Oppenheimer Asset Management Inc. Sells 428 Shares of W.W. Grainger, Inc. (NYSE:GWW)

Oppenheimer Asset Management Inc. reduced its position in shares of W.W. Grainger, Inc. (NYSE:GWW - Free Report) by 9.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,087 shares of the industrial products company's stock after selling 428 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in W.W. Grainger were worth $4,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GWW. Optas LLC boosted its position in shares of W.W. Grainger by 0.8% in the 2nd quarter. Optas LLC now owns 1,353 shares of the industrial products company's stock worth $1,221,000 after purchasing an additional 11 shares during the last quarter. CX Institutional increased its stake in shares of W.W. Grainger by 0.9% in the 3rd quarter. CX Institutional now owns 1,191 shares of the industrial products company's stock valued at $1,237,000 after acquiring an additional 11 shares during the last quarter. Sage Mountain Advisors LLC increased its stake in shares of W.W. Grainger by 4.4% in the 2nd quarter. Sage Mountain Advisors LLC now owns 284 shares of the industrial products company's stock valued at $256,000 after acquiring an additional 12 shares during the last quarter. Ritholtz Wealth Management raised its position in shares of W.W. Grainger by 2.7% in the 2nd quarter. Ritholtz Wealth Management now owns 463 shares of the industrial products company's stock valued at $418,000 after acquiring an additional 12 shares during the period. Finally, Garner Asset Management Corp boosted its stake in W.W. Grainger by 0.7% during the 2nd quarter. Garner Asset Management Corp now owns 1,635 shares of the industrial products company's stock worth $1,476,000 after acquiring an additional 12 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

W.W. Grainger Stock Up 0.2 %

Shares of NYSE:GWW traded up $2.32 during midday trading on Friday, reaching $1,178.33. The company had a trading volume of 232,113 shares, compared to its average volume of 235,665. W.W. Grainger, Inc. has a 1-year low of $772.13 and a 1-year high of $1,227.66. The stock has a market cap of $57.38 billion, a PE ratio of 31.94, a P/E/G ratio of 3.32 and a beta of 1.15. The company has a quick ratio of 1.68, a current ratio of 2.59 and a debt-to-equity ratio of 0.59. The business's 50 day moving average price is $1,078.55 and its 200 day moving average price is $988.48.

W.W. Grainger (NYSE:GWW - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $9.87 earnings per share for the quarter, missing the consensus estimate of $9.98 by ($0.11). The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.40 billion. W.W. Grainger had a return on equity of 51.78% and a net margin of 10.80%. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $9.43 EPS. Research analysts forecast that W.W. Grainger, Inc. will post 38.91 EPS for the current fiscal year.

W.W. Grainger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 11th will be paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, November 8th. W.W. Grainger's dividend payout ratio is currently 22.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GWW shares. Morgan Stanley began coverage on shares of W.W. Grainger in a report on Friday, September 6th. They issued an "equal weight" rating and a $990.00 target price on the stock. Loop Capital lifted their target price on W.W. Grainger from $900.00 to $1,100.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Oppenheimer downgraded W.W. Grainger from an "outperform" rating to a "market perform" rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on W.W. Grainger from $1,000.00 to $1,015.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada increased their target price 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, W.W. Grainger has an average rating of "Hold" and an average target price of $1,086.50.

Insider Activity

In other news, 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 of the company's stock, valued at $102,281,004.56. This trade represents a 11.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Laurie R. Thomson sold 125 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,206.03, for a total value of $150,753.75. Following the transaction, the vice president now directly owns 675 shares in the company, valued at $814,070.25. The trade was a 15.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,900 shares of company stock valued at $52,640,733 in the last quarter. Company insiders own 9.50% 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.