Corebridge Financial Inc. Cuts Stock Holdings in W.W. Grainger, Inc. (NYSE:GWW)

Corebridge Financial Inc. reduced its stake in W.W. Grainger, Inc. (NYSE:GWW) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,660 shares of the industrial products company’s stock after selling 26 shares during the quarter. Corebridge Financial Inc.’s holdings in W.W. Grainger were worth $12,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GWW. Thrivent Financial for Lutherans increased its stake in W.W. Grainger by 4.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,233 shares of the industrial products company’s stock valued at $2,320,000 after acquiring an additional 94 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in shares of W.W. Grainger during the 3rd quarter valued at about $294,000. Larson Financial Group LLC raised its holdings in shares of W.W. Grainger by 111.1% during the 3rd quarter. Larson Financial Group LLC now owns 38 shares of the industrial products company’s stock valued at $40,000 after buying an additional 20 shares in the last quarter. Centaurus Financial Inc. bought a new stake in W.W. Grainger in the 3rd quarter worth approximately $208,000. Finally, Summit Trail Advisors LLC boosted its stake in W.W. Grainger by 33.0% in the third quarter. Summit Trail Advisors LLC now owns 419 shares of the industrial products company’s stock worth $436,000 after buying an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of W.W. Grainger from $1,113.00 to $1,112.00 and set a “sector perform” rating for the company in a report on Monday, February 3rd. William Blair raised W.W. Grainger from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. StockNews.com lowered W.W. Grainger from a “buy” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their price target on W.W. Grainger from $1,125.00 to $1,100.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1,151.50.

W.W. Grainger Price Performance

Shares of W.W. Grainger stock opened at $989.47 on Wednesday. The business has a 50 day moving average of $1,034.72 and a 200 day moving average of $1,077.68. 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 market cap of $47.71 billion, a PE ratio of 25.56, a P/E/G ratio of 2.70 and a beta of 1.18. The company has a quick ratio of 1.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.62.

W.W. Grainger (NYSE:GWW) last posted its earnings results on Friday, January 31st. The industrial products company reported $9.71 EPS for the quarter, missing the consensus estimate of $9.75 by ($0.04). W.W. Grainger had a return on equity of 52.43% and a net margin of 11.12%. During the same quarter in the previous year, the firm earned $8.33 earnings per share. As a group, equities research analysts forecast that W.W. Grainger, Inc. will post 40.3 earnings per share for the current year.

W.W. Grainger Announces Dividend

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