Kentucky Retirement Systems Reduces Position in W.W. Grainger, Inc. (NYSE:GWW)

Kentucky Retirement Systems cut its holdings in shares of W.W. Grainger, Inc. (NYSE:GWW) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,295 shares of the industrial products company’s stock after selling 60 shares during the quarter. Kentucky Retirement Systems’ holdings in W.W. Grainger were worth $2,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GWW. EverSource Wealth Advisors LLC grew its position in W.W. Grainger by 5.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 203 shares of the industrial products company’s stock valued at $168,000 after acquiring an additional 11 shares during the last quarter. Hexagon Capital Partners LLC grew its position in W.W. Grainger by 10.0% during the first quarter. Hexagon Capital Partners LLC now owns 121 shares of the industrial products company’s stock valued at $124,000 after acquiring an additional 11 shares during the last quarter. Optas LLC grew its position in W.W. Grainger by 0.8% during the second quarter. Optas LLC now owns 1,353 shares of the industrial products company’s stock valued at $1,221,000 after acquiring an additional 11 shares during the last quarter. Copperwynd Financial LLC grew its holdings in shares of W.W. Grainger by 3.6% in the fourth quarter. Copperwynd Financial LLC now owns 347 shares of the industrial products company’s stock worth $288,000 after purchasing an additional 12 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its holdings in shares of W.W. Grainger by 2.7% in the first quarter. Aaron Wealth Advisors LLC now owns 463 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 12 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Baird R W cut shares of W.W. Grainger from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Royal Bank of Canada cut their target price on shares of W.W. Grainger from $978.00 to $972.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Erste Group Bank restated a “hold” rating on shares of W.W. Grainger in a report on Friday, June 14th. Morgan Stanley assumed 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. Finally, JPMorgan Chase & Co. raised their target price on shares of W.W. Grainger from $1,000.00 to $1,015.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $1,014.11.

Insider Buying and Selling

In related news, CEO Donald G. Macpherson sold 27,502 shares of W.W. Grainger stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 111,559 shares in the company, valued at approximately $111,650,478.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.50% of the stock is owned by corporate insiders.

W.W. Grainger Price Performance

GWW opened at $1,030.10 on Friday. The stock has a 50-day moving average price of $965.43 and a 200-day moving average price of $955.58. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.30 and a quick ratio of 1.40. The firm has a market cap of $50.55 billion, a PE ratio of 28.44, a P/E/G ratio of 1.96 and a beta of 1.16. W.W. Grainger, Inc. has a 1 year low of $674.41 and a 1 year high of $1,034.18.

W.W. Grainger (NYSE:GWW) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $9.76 EPS for the quarter, topping the consensus estimate of $9.58 by $0.18. W.W. Grainger had a return on equity of 53.25% and a net margin of 10.86%. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period last year, the company earned $9.28 EPS. W.W. Grainger’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts predict that W.W. Grainger, Inc. will post 38.75 earnings per share for the current fiscal year.

W.W. Grainger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Monday, August 12th were issued a $2.05 dividend. The ex-dividend date was Monday, August 12th. This represents a $8.20 annualized dividend and a yield of 0.80%. W.W. Grainger’s payout ratio is 22.64%.

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.