W.W. Grainger (NYSE:GWW) Reaches New 12-Month High Following Strong Earnings

W.W. Grainger, Inc. (NYSE:GWW) shares reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $1,520.01 and last traded at $1,485.0370, with a volume of 72,007 shares traded. The stock had previously closed at $1,397.98.

The industrial products company reported $12.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.68 by $0.86. The business had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.08 billion. W.W. Grainger had a return on equity of 48.73% and a net margin of 9.92%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $10.21 earnings per share.

W.W. Grainger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 9th will be issued a $2.49 dividend. This represents a $9.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, November 9th. W.W. Grainger’s payout ratio is presently 25.40%.

Analysts Set New Price Targets

GWW has been the topic of several analyst reports. DA Davidson raised their target price on W.W. Grainger from $1,250.00 to $1,260.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Morgan Stanley increased their target price on W.W. Grainger from $1,300.00 to $1,400.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Barclays reduced their price objective on W.W. Grainger from $1,185.00 to $1,172.00 and set an “underweight” rating on the stock in a research note on Friday, September 25th. Robert W. Baird boosted their target price on shares of W.W. Grainger from $1,365.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Oppenheimer increased their target price on shares of W.W. Grainger from $1,350.00 to $1,375.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $1,266.08.

Institutional Trading of W.W. Grainger

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of W.W. Grainger in the 2nd quarter valued at $6,303,024,000. Bank of America Corp DE lifted its stake in W.W. Grainger by 4.5% during the first quarter. Bank of America Corp DE now owns 527,969 shares of the industrial products company’s stock valued at $575,914,000 after buying an additional 22,731 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of W.W. Grainger by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 409,142 shares of the industrial products company’s stock worth $446,210,000 after buying an additional 9,743 shares during the period. Amundi boosted its holdings in shares of W.W. Grainger by 24.1% in the second quarter. Amundi now owns 363,308 shares of the industrial products company’s stock worth $494,244,000 after buying an additional 70,451 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of W.W. Grainger by 147,683.3% in the third quarter. International Assets Investment Management LLC now owns 300,000 shares of the industrial products company’s stock worth $373,728,000 after buying an additional 299,797 shares during the period. 80.70% of the stock is currently owned by institutional investors.

W.W. Grainger Stock Performance

The firm’s 50-day moving average price is $1,303.50 and its two-hundred day moving average price is $1,239.03. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $69.14 billion, a PE ratio of 37.43, a P/E/G ratio of 2.44 and a beta of 0.95.

About W.W. Grainger

W.W. Grainger, Inc is a distributor of maintenance, repair and operating (MRO) supplies for businesses, government agencies and other organizations. Its product offerings include safety equipment, tools, fasteners, electrical and plumbing supplies, material-handling equipment, cleaning and janitorial products, HVAC supplies, and facility-maintenance products.

The company also provides services designed to help customers manage procurement and workplace operations, including product selection support, inventory-management programs, digital purchasing tools, and technical assistance.