Oppenheimer & Co. Inc. Has $5 Million Stake in W.W. Grainger, Inc. (NYSE:GWW)

Oppenheimer & Co. Inc. reduced its holdings in W.W. Grainger, Inc. (NYSE:GWW - Free Report) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,815 shares of the industrial products company's stock after selling 670 shares during the period. Oppenheimer & Co. Inc.'s holdings in W.W. Grainger were worth $5,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GWW. GHP Investment Advisors Inc. lifted its position in shares of W.W. Grainger by 250.0% in the third quarter. GHP Investment Advisors Inc. now owns 28 shares of the industrial products company's stock worth $29,000 after purchasing an additional 20 shares in the last quarter. HWG Holdings LP purchased a new stake in W.W. Grainger in the 2nd quarter worth approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of W.W. Grainger during the 1st quarter valued at $41,000. Triad Wealth Partners LLC purchased a new position in shares of W.W. Grainger during the 2nd quarter valued at $42,000. Finally, Fortitude Family Office LLC increased its stake in shares of 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 acquiring an additional 14 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on GWW shares. Robert W. Baird raised W.W. Grainger from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $975.00 to $1,230.00 in a research report on Wednesday, October 16th. Bank of America started coverage on W.W. Grainger in a research note on Monday, October 7th. They issued an "underperform" rating and a $925.00 price target for the company. Loop Capital lifted their target price on shares of W.W. Grainger from $900.00 to $1,100.00 and gave the company a "hold" rating in a research note on Monday, October 21st. Morgan Stanley assumed coverage on W.W. Grainger in a research report on Friday, September 6th. They issued an "equal weight" rating and a $990.00 price target for the company. Finally, Oppenheimer cut shares of W.W. Grainger from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $1,086.50.

Insiders Place Their Bets

In other news, VP Paige K. Robbins sold 9,577 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $1,117.84, for a total transaction of $10,705,553.68. Following the transaction, the vice president now directly owns 4,379 shares in the company, valued at approximately $4,895,021.36. This represents a 68.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Deidra C. Merriwether sold 704 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 9,509 shares of the company's stock, valued at approximately $10,513,055.31. This represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,775 shares of company stock valued at $52,489,979. 9.50% of the stock is currently owned by corporate insiders.

W.W. Grainger Price Performance

Shares of W.W. Grainger stock traded down $1.18 during trading on Friday, hitting $1,174.83. 119,036 shares of the company's stock traded hands, compared to its average volume of 235,156. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.59 and a quick ratio of 1.68. The company has a market cap of $57.21 billion, a PE ratio of 31.89, a PEG ratio of 3.32 and a beta of 1.15. W.W. Grainger, Inc. has a twelve month low of $772.13 and a twelve month high of $1,227.66. The firm's fifty day moving average price is $1,073.95 and its 200 day moving average price is $986.32.

W.W. Grainger (NYSE:GWW - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $9.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.98 by ($0.11). The firm 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 company's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $9.43 EPS. Analysts forecast that W.W. Grainger, Inc. will post 38.91 earnings per share for the current year.

W.W. Grainger Dividend Announcement

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

W.W. Grainger 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.