State of Michigan Retirement System Has $13.72 Million Stake in W.W. Grainger, Inc. (NYSE:GWW)

State of Michigan Retirement System lowered its stake in W.W. Grainger, Inc. (NYSE:GWW) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,017 shares of the industrial products company’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in W.W. Grainger were worth $13,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GWW. Proficio Capital Partners LLC acquired a new stake in W.W. Grainger in the fourth quarter worth about $175,000. AustralianSuper Pty Ltd boosted its stake in shares of W.W. Grainger by 694.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 76,674 shares of the industrial products company’s stock valued at $80,818,000 after purchasing an additional 67,018 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of W.W. Grainger during the 3rd quarter worth approximately $55,815,000. Assenagon Asset Management S.A. grew its position in shares of W.W. Grainger by 1,653.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 56,978 shares of the industrial products company’s stock worth $60,058,000 after buying an additional 53,729 shares during the period. Finally, State Street Corp raised its stake in shares of W.W. Grainger by 2.3% during the third quarter. State Street Corp now owns 1,997,191 shares of the industrial products company’s stock worth $2,074,702,000 after buying an additional 45,369 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GWW. Morgan Stanley lifted their target price on shares of W.W. Grainger from $990.00 to $1,215.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 19th. StockNews.com cut W.W. Grainger from a “buy” rating to a “hold” rating in a research note on Thursday, December 19th. UBS Group began coverage on W.W. Grainger in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $1,280.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on W.W. Grainger from $1,125.00 to $1,100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada cut their price target on shares of W.W. Grainger from $1,113.00 to $1,112.00 and set a “sector perform” rating on the stock in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1,148.56.

W.W. Grainger Price Performance

Shares of GWW opened at $988.67 on Wednesday. The stock has a 50 day simple moving average of $1,059.45 and a 200 day simple moving average of $1,076.06. W.W. Grainger, Inc. has a 52-week low of $874.98 and a 52-week high of $1,227.66. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.49 and a current ratio of 2.49. The firm has a market capitalization of $47.67 billion, a PE ratio of 25.54, a P/E/G ratio of 2.70 and a beta of 1.17.

W.W. Grainger (NYSE:GWW) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $9.71 earnings per share 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 quarter in the prior year, the business posted $8.33 earnings per share. Sell-side analysts predict that W.W. Grainger, Inc. will post 40.3 EPS for the current fiscal year.

W.W. Grainger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Monday, February 10th were paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Monday, February 10th. W.W. Grainger’s payout ratio is presently 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.