W.W. Grainger, Inc. (NYSE:GWW) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in W.W. Grainger, Inc. (NYSE:GWW) by 4.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,961 shares of the industrial products company’s stock after acquiring an additional 2,725 shares during the period. Principal Financial Group Inc. owned about 0.12% of W.W. Grainger worth $61,249,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of W.W. Grainger in the 3rd quarter valued at about $848,000. Empowered Funds LLC increased its position in shares of W.W. Grainger by 27.0% in the third quarter. Empowered Funds LLC now owns 2,226 shares of the industrial products company’s stock valued at $2,312,000 after buying an additional 473 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of W.W. Grainger by 72.6% during the 3rd quarter. Toronto Dominion Bank now owns 22,045 shares of the industrial products company’s stock worth $22,901,000 after buying an additional 9,270 shares during the period. Concord Asset Management LLC VA lifted its position in shares of W.W. Grainger by 26.7% during the 3rd quarter. Concord Asset Management LLC VA now owns 2,285 shares of the industrial products company’s stock valued at $2,374,000 after buying an additional 482 shares in the last quarter. Finally, MML Investors Services LLC grew its stake in W.W. Grainger by 8.1% in the 3rd quarter. MML Investors Services LLC now owns 7,146 shares of the industrial products company’s stock valued at $7,424,000 after acquiring an additional 537 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.

W.W. Grainger Stock Performance

Shares of W.W. Grainger stock opened at $1,092.96 on Friday. The business’s 50 day moving average price is $1,151.14 and its 200 day moving average price is $1,027.56. The company has a market cap of $53.23 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 3.19 and a beta of 1.16. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.68 and a current ratio of 2.59. W.W. Grainger, Inc. has a one year low of $800.97 and a one year high of $1,227.66.

W.W. Grainger (NYSE:GWW) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $9.87 EPS for the quarter, missing the consensus estimate of $9.98 by ($0.11). W.W. Grainger had a return on equity of 51.78% and a net margin of 10.80%. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the prior year, the firm earned $9.43 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. On average, research analysts predict that W.W. Grainger, Inc. will post 38.94 EPS for the current year.

W.W. Grainger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 11th were paid a $2.05 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $8.20 annualized dividend and a dividend yield of 0.75%. W.W. Grainger’s dividend payout ratio (DPR) is 22.23%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GWW shares. Loop Capital upped their price objective on shares of W.W. Grainger from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. StockNews.com downgraded shares of W.W. Grainger from a “buy” rating to a “hold” rating in a research report on Thursday. UBS Group began coverage on W.W. Grainger in a report on Wednesday, November 13th. They issued a “neutral” rating and a $1,280.00 price objective on the stock. Bank of America started coverage on W.W. Grainger in a report on Monday, October 7th. They set an “underperform” rating and a $925.00 target price for the company. Finally, Morgan Stanley lifted their price target on W.W. Grainger from $990.00 to $1,215.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has assigned 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 $1,140.56.

Insider Transactions at W.W. Grainger

In other W.W. Grainger news, VP Paige K. Robbins sold 9,577 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $1,117.84, for a total value of $10,705,553.68. Following the transaction, the vice president now owns 4,379 shares of the company’s stock, valued at $4,895,021.36. This represents a 68.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Deidra C. Merriwether sold 704 shares of W.W. Grainger stock in a transaction dated 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 sale, the chief financial officer now owns 9,509 shares of the company’s stock, valued at approximately $10,513,055.31. This represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,398 shares of company stock worth $25,116,181 in the last 90 days. Insiders own 9.50% of the company’s stock.

About W.W. Grainger

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.