Pinebridge Investments L.P. Sells 21,897 Shares of W.W. Grainger, Inc. (NYSE:GWW)

Pinebridge Investments L.P. cut its stake in shares of W.W. Grainger, Inc. (NYSE:GWW - Free Report) by 72.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,406 shares of the industrial products company's stock after selling 21,897 shares during the period. Pinebridge Investments L.P.'s holdings in W.W. Grainger were worth $8,860,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GWW. Cyrus J. Lawrence LLC acquired a new position in W.W. Grainger in the 4th quarter valued at approximately $31,000. Iron Horse Wealth Management LLC raised its stake in W.W. Grainger by 43.5% during the 4th quarter. Iron Horse Wealth Management LLC now owns 33 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 10 shares during the last quarter. AlphaMark Advisors LLC bought a new position in shares of W.W. Grainger during the 4th quarter worth about $37,000. OFI Invest Asset Management acquired a new stake in W.W. Grainger in the 4th quarter valued at $42,000. Finally, Atala Financial Inc bought a new stake in W.W. Grainger during the fourth quarter worth about $43,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at W.W. Grainger

In other news, CFO Deidra C. Merriwether sold 1,164 shares of W.W. Grainger stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $997.12, for a total transaction of $1,160,647.68. Following the sale, the chief financial officer now owns 10,235 shares of the company's stock, valued at approximately $10,205,523.20. The trade was a 10.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wolfe Research lowered W.W. Grainger from a "peer perform" rating to an "underperform" rating and set a $966.00 price objective on the stock. in a research report on Thursday, April 3rd. Royal Bank of Canada dropped their price objective on W.W. Grainger from $1,113.00 to $1,112.00 and set a "sector perform" rating on the stock in a research note on Monday, February 3rd. William Blair raised W.W. Grainger from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. reduced their price objective on W.W. Grainger from $1,125.00 to $1,100.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $1,130.89.

W.W. Grainger Price Performance

W.W. Grainger stock traded up $1.37 during mid-day trading on Tuesday, reaching $1,012.78. The company had a trading volume of 214,689 shares, compared to its average volume of 252,589. The company has a market cap of $48.83 billion, a P/E ratio of 26.16, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a current ratio of 2.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.62. W.W. Grainger, Inc. has a fifty-two week low of $874.98 and a fifty-two week high of $1,227.66. The business has a fifty day simple moving average of $986.09 and a 200 day simple moving average of $1,069.54.

W.W. Grainger (NYSE:GWW - Get Free Report) last issued its earnings results on Friday, January 31st. The industrial products company reported $9.71 EPS for the quarter, missing analysts' consensus estimates of $9.75 by ($0.04). W.W. Grainger had a net margin of 11.12% and a return on equity of 52.43%. During the same period in the prior year, the business earned $8.33 earnings per share. On average, equities research analysts predict that W.W. Grainger, Inc. will post 40.3 earnings per share for the current year.

W.W. Grainger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Monday, February 10th were paid a $2.05 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $8.20 dividend on an annualized basis and a yield of 0.81%. W.W. Grainger's dividend payout ratio is currently 21.18%.

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.