Franklin Resources Inc. Reduces Stake in W.W. Grainger, Inc. (NYSE:GWW)

Franklin Resources Inc. trimmed its position in shares of W.W. Grainger, Inc. (NYSE:GWW) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 629,312 shares of the industrial products company’s stock after selling 65,294 shares during the quarter. Franklin Resources Inc. owned approximately 1.29% of W.W. Grainger worth $691,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in W.W. Grainger by 2.3% in the 3rd quarter. State Street Corp now owns 1,997,191 shares of the industrial products company’s stock valued at $2,074,702,000 after buying an additional 45,369 shares in the last quarter. FMR LLC raised its holdings in shares of W.W. Grainger by 2.6% in the third quarter. FMR LLC now owns 1,617,149 shares of the industrial products company’s stock worth $1,679,911,000 after acquiring an additional 40,992 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of W.W. Grainger by 2.5% in the third quarter. Geode Capital Management LLC now owns 1,167,031 shares of the industrial products company’s stock valued at $1,208,610,000 after acquiring an additional 28,626 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of W.W. Grainger by 8.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,960 shares of the industrial products company’s stock valued at $568,188,000 after acquiring an additional 42,866 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of W.W. Grainger by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 360,026 shares of the industrial products company’s stock valued at $324,841,000 after acquiring an additional 17,699 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

GWW has been the subject of several analyst reports. Loop Capital boosted 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. UBS Group initiated coverage on shares of W.W. Grainger in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $1,280.00 price objective for the company. StockNews.com upgraded shares of W.W. Grainger from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Morgan Stanley boosted their price target on W.W. Grainger from $990.00 to $1,215.00 and gave the company an “equal weight” rating in a report on Tuesday, November 19th. Finally, Wolfe Research raised W.W. Grainger to a “hold” rating in a research note on Sunday, September 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1,109.00.

Insider Transactions at W.W. Grainger

In other W.W. Grainger news, CFO Deidra C. Merriwether sold 704 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $1,105.59, for a total value of $778,335.36. Following the completion of the transaction, the chief financial officer now owns 9,509 shares in the company, valued at $10,513,055.31. This represents a 6.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald G. Macpherson sold 27,502 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $1,000.82, for a total transaction of $27,524,551.64. Following the completion of the sale, the chief executive officer now directly owns 111,559 shares of the company’s stock, valued at $111,650,478.38. This trade represents a 19.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,900 shares of company stock valued at $52,640,733 over the last 90 days. Corporate insiders own 9.50% of the company’s stock.

W.W. Grainger Price Performance

Shares of W.W. Grainger stock opened at $1,142.87 on Friday. The business’s fifty day moving average price is $1,144.43 and its 200 day moving average price is $1,020.90. W.W. Grainger, Inc. has a twelve month low of $800.97 and a twelve month high of $1,227.66. The company has a current ratio of 2.59, a quick ratio of 1.68 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $55.66 billion, a P/E ratio of 30.98, a PEG ratio of 3.19 and a beta of 1.16.

W.W. Grainger (NYSE:GWW) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $9.87 earnings per share for the quarter, missing the consensus estimate of $9.98 by ($0.11). The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.40 billion. W.W. Grainger had a net margin of 10.80% and a return on equity of 51.78%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $9.43 earnings per share. As a group, research analysts anticipate that W.W. Grainger, Inc. will post 38.94 earnings per share for the current year.

W.W. Grainger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 11th were given a $2.05 dividend. This represents a $8.20 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, November 8th. W.W. Grainger’s payout ratio is currently 22.23%.

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.