Commerce Bank Has $6.89 Million Stake in W.W. Grainger, Inc. (NYSE:GWW)

22 Nov 2024, 04:56 by Jessica Moore · The Cerbat Gem

Commerce Bank raised its stake in W.W. Grainger, Inc. (NYSE:GWW – Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,632 shares of the industrial products company’s stock after purchasing an additional 53 shares during the quarter. Commerce Bank’s holdings in W.W. Grainger were worth $6,889,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. HWG Holdings LP purchased a new position in W.W. Grainger during the 2nd quarter worth $26,000. GHP Investment Advisors Inc. grew its position in W.W. Grainger by 250.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 28 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in W.W. Grainger in the 2nd quarter valued at about $42,000. EntryPoint Capital LLC lifted its position in shares of W.W. Grainger by 537.5% during the 1st quarter. EntryPoint Capital LLC now owns 51 shares of the industrial products company’s stock worth $52,000 after buying an additional 43 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of W.W. Grainger by 38.9% in the 3rd quarter. Fortitude Family Office LLC now owns 50 shares of the industrial products company’s stock worth $52,000 after buying an additional 14 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on GWW. Baird R W upgraded W.W. Grainger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Morgan Stanley lifted their target price on W.W. Grainger from $990.00 to $1,215.00 and gave the stock an “equal weight” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on shares of 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. Wolfe Research upgraded shares of W.W. Grainger to a “hold” rating in a research note on Sunday, September 22nd. Finally, Robert W. Baird upgraded shares of W.W. Grainger from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $975.00 to $1,230.00 in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, ten 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 data from MarketBeat.com, W.W. Grainger has a consensus rating of “Hold” and a consensus target price of $1,109.00.

Get Our Latest Analysis on W.W. Grainger

W.W. Grainger Stock Up 1.1 %

Shares of NYSE GWW opened at $1,190.86 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.59 and a debt-to-equity ratio of 0.59. The company has a market cap of $57.99 billion, a P/E ratio of 32.28, a P/E/G ratio of 3.24 and a beta of 1.15. W.W. Grainger, Inc. has a 52 week low of $772.13 and a 52 week high of $1,227.66. The business has a 50-day simple moving average of $1,094.12 and a two-hundred day simple moving average of $995.07.

W.W. Grainger (NYSE:GWW – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $9.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.98 by ($0.11). W.W. Grainger had a return on equity of 51.78% and a net margin of 10.80%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter last year, the business posted $9.43 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Research analysts anticipate that W.W. Grainger, Inc. will post 38.92 earnings per share for the current fiscal year.

W.W. Grainger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 11th will be issued a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, November 8th. W.W. Grainger’s dividend payout ratio is currently 22.23%.

Insider Buying and Selling

In other news, CFO Deidra C. Merriwether sold 704 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $1,105.59, for a total value of $778,335.36. Following the completion of the sale, the chief financial officer now owns 9,509 shares of the company’s stock, valued at approximately $10,513,055.31. This represents a 6.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donald G. Macpherson sold 27,502 shares of the business’s stock in a transaction on Monday, September 16th. The stock was 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 represents a 19.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,900 shares of company stock worth $52,640,733. Corporate insiders own 9.50% of the company’s stock.

About W.W. Grainger

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