W.W. Grainger, Inc. (NYSE:GWW) Shares Acquired by Cornerstone Wealth Management LLC

17 Oct 2024, 14:22 by Teresa Graham · The Cerbat Gem

Cornerstone Wealth Management LLC boosted its holdings in W.W. Grainger, Inc. (NYSE:GWW – Free Report) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,676 shares of the industrial products company’s stock after acquiring an additional 53 shares during the period. Cornerstone Wealth Management LLC’s holdings in W.W. Grainger were worth $4,857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GWW. HWG Holdings LP purchased a new position in shares of W.W. Grainger during the 2nd quarter worth approximately $26,000. Valued Wealth Advisors LLC increased its position in W.W. Grainger by 170.0% during the first quarter. Valued Wealth Advisors LLC now owns 27 shares of the industrial products company’s stock worth $27,000 after buying an additional 17 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of W.W. Grainger in the fourth quarter worth $28,000. Newbridge Financial Services Group Inc. boosted its stake in shares of W.W. Grainger by 275.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 45 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 33 shares during the last quarter. Finally, Washington Trust Advisors Inc. lifted its holdings in W.W. Grainger by 225.0% in the 1st quarter. Washington Trust Advisors Inc. now owns 39 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 27 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wolfe Research raised shares of W.W. Grainger to a “hold” rating in a research report on Sunday, September 22nd. Robert W. Baird upgraded shares of W.W. Grainger from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $975.00 to $1,230.00 in a report on Wednesday. Bank of America initiated coverage on shares of W.W. Grainger in a research note on Monday, October 7th. They set an “underperform” rating and a $925.00 price objective for the company. Morgan Stanley started coverage on W.W. Grainger in a research report on Friday, September 6th. They issued an “equal weight” rating and a $990.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on W.W. Grainger from $1,000.00 to $1,015.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, W.W. Grainger currently has an average rating of “Hold” and an average target price of $1,030.70.

Check Out Our Latest Report on W.W. Grainger

W.W. Grainger Stock Performance

NYSE:GWW opened at $1,112.93 on Thursday. W.W. Grainger, Inc. has a 1-year low of $674.41 and a 1-year high of $1,115.63. The stock has a market cap of $54.61 billion, a P/E ratio of 30.73, a PEG ratio of 2.88 and a beta of 1.16. 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 50-day moving average of $1,002.92 and a two-hundred day moving average of $962.39.

W.W. Grainger (NYSE:GWW – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $9.76 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same quarter last year, the firm earned $9.28 EPS. W.W. Grainger’s quarterly revenue was up 3.1% on a year-over-year basis. On average, research analysts expect that W.W. Grainger, Inc. will post 38.65 earnings per share for the current fiscal year.

W.W. Grainger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Monday, August 12th were issued a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 0.74%. The ex-dividend date was Monday, August 12th. W.W. Grainger’s dividend payout ratio is currently 22.64%.

Insider Activity

In related news, CEO Donald G. Macpherson sold 27,502 shares of the business’s 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 of the company’s stock, valued at $111,650,478.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Donald G. Macpherson sold 12,992 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $1,037.68, for a total transaction of $13,481,538.56. Following the completion of the transaction, the chief executive officer now owns 98,567 shares in the company, valued at $102,281,004.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Donald G. Macpherson sold 27,502 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 owns 111,559 shares in the company, valued at $111,650,478.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.50% of the company’s stock.

About W.W. Grainger

(Free Report)

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.