Citigroup Inc. Grows Position in W.W. Grainger, Inc. (NYSE:GWW)

Key Points

• Citigroup Inc. increased its stake in W.W. Grainger, Inc. by 43.5% during the 1st quarter, owning approximately 65,159 shares worth $64.37 million after purchasing 19,746 additional shares.
• Several analysts have adjusted their price targets for W.W. Grainger, with Loop Capital lowering theirs from $1,000 to $950, while JPMorgan Chase & Co. raised theirs from $1,100 to $1,125, reflecting mixed outlooks on the stock.
• W.W. Grainger's recent quarterly earnings showed an EPS of $9.97, which missed analysts' expectations of $10.07, although the company reported a 5.6% increase in revenue compared to the same quarter last year.

Citigroup Inc. lifted its stake in shares of W.W. Grainger, Inc. (NYSE:GWW - Free Report) by 43.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,159 shares of the industrial products company's stock after purchasing an additional 19,746 shares during the quarter. Citigroup Inc. owned 0.14% of W.W. Grainger worth $64,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in W.W. Grainger by 12.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 86,903 shares of the industrial products company's stock worth $85,865,000 after acquiring an additional 9,700 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of W.W. Grainger by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 306,829 shares of the industrial products company's stock worth $303,095,000 after purchasing an additional 13,330 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in shares of W.W. Grainger in the 1st quarter worth approximately $11,711,000. Hemington Wealth Management lifted its position in shares of W.W. Grainger by 0.9% in the 1st quarter. Hemington Wealth Management now owns 1,139 shares of the industrial products company's stock worth $1,125,000 after purchasing an additional 10 shares during the period. Finally, AXS Investments LLC lifted its position in shares of W.W. Grainger by 13.1% in the 1st quarter. AXS Investments LLC now owns 1,294 shares of the industrial products company's stock worth $1,278,000 after purchasing an additional 150 shares during the period. 80.70% of the stock is owned by institutional investors.

W.W. Grainger Stock Up 2.1%

W.W. Grainger stock traded up $20.64 during mid-day trading on Wednesday, reaching $981.34. The stock had a trading volume of 306,767 shares, compared to its average volume of 288,315. W.W. Grainger, Inc. has a one year low of $893.99 and a one year high of $1,227.66. The company has a market capitalization of $46.94 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.82 and a quick ratio of 1.64. The company has a 50-day moving average price of $1,032.45 and a two-hundred day moving average price of $1,025.85.

W.W. Grainger (NYSE:GWW - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The industrial products company reported $9.97 EPS for the quarter, missing the consensus estimate of $10.07 by ($0.10). The business had revenue of $4.55 billion for the quarter, compared to analysts' expectations of $4.52 billion. W.W. Grainger had a net margin of 10.99% and a return on equity of 49.63%. W.W. Grainger's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $9.76 EPS. On average, analysts expect that W.W. Grainger, Inc. will post 40.3 EPS for the current fiscal year.

W.W. Grainger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Monday, August 11th will be issued a dividend of $2.26 per share. This represents a $9.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, August 11th. W.W. Grainger's dividend payout ratio is presently 22.94%.

Insiders Place Their Bets

In related news, VP Krantz Nancy L. Berardinelli sold 280 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $1,075.20, for a total transaction of $301,056.00. Following the sale, the vice president owned 3,369 shares in the company, valued at approximately $3,622,348.80. This represents a 7.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GWW shares. Loop Capital dropped their price target on shares of W.W. Grainger from $1,000.00 to $950.00 and set a "hold" rating on the stock in a research report on Monday, August 4th. Morgan Stanley dropped their price target on shares of W.W. Grainger from $1,215.00 to $1,160.00 and set an "equal weight" rating on the stock in a research report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on shares of W.W. Grainger from $1,100.00 to $1,125.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Finally, Royal Bank Of Canada dropped their target price on shares of W.W. Grainger from $1,176.00 to $1,007.00 and set a "sector perform" rating on the stock in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, W.W. Grainger currently has an average rating of "Hold" and an average price target of $1,080.38.

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.