Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. CryoLife (CRY) upgraded to Buy from Hold at Needham with analyst Mike Matson saying the company's revenue growth will accelerate in 2020 due to its three new Jotec products, its Nexus European distribution agreement, the initiation of the PROACT Xa trial, and the potential regulatory approvals for PerClot in the U.S. and BioGlue in China. 2. TechnipFMC (FTI) upgraded to Buy from Neutral at Citi. 3. Cambridge Bancorp (CATC) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Collyn Gilbert with the analyst increased her 2021 estimates to reflect Cambridge's recent acquisition of Wellesley Bancorp and subsequent $35M common equity raise. 4. Vale (VALE) upgraded to Buy from Hold at Jefferies. 5. Fortive (FTV) upgraded to Overweight from Equal Weight at Morgan Stanley while Grainger (GWW) and Rockwell Automation (ROK) were upgraded to Equal Weight from Underweight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Reports Q1 revenue $2.04B, consensus $1.98B. CEO Doug Pferdehirt stated, "I am very pleased with the strong performance in the quarter, which further highlights our continuing success in delivering on our commitments. Total company revenue was $2B with adjusted EBITDA of $257M when excluding foreign exchange impacts. We had a solid start to the year with total company inbound of $2.8B, driving sequential growth in backlog to $13.5B...As demonstrated by our financial performance in the quarter, operational execution across the portfolio continues at a high level, driven in part by our heightened focus on project selectivity and the favorable impact it is having on the quality of orders in our backlog. Our strong execution and robust backlog give us confidence that we can capitalize on the strong market and achieve our financial targets. We completed the sale of our Measurement Solutions business in March. In keeping with our commitment to shareholder distributions, a significant portion of the proceeds was allocated to repurchasing $150M of shares in Q1. With this acceleration in share repurchases, we now expect total shareholder distributions in 2024 to grow at least 70% when compared to 2023."

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W.W. Grainger's board of directors approved a quarterly cash dividend of $2.05 per share, an increase of 10% from the most recent company dividend of $1.86 per share. The dividend is payable on June 1, to shareholders of record on May 13. In addition, the board approved the repurchase of up to 5M shares of the company's outstanding common stock, replacing the company's existing repurchase authorization. The new repurchase authorization has no expiration date. "2024 is on track to be our 53rd consecutive year of increased dividends, upholding Grainger's long-standing commitment to our shareholders. This increase, together with our updated share repurchase authorization, reinforces our ability to continue investing in the business while also returning excess cash to shareholders," said D.G. Macpherson, Grainger CEO.

Sees Q2 revenue $1.6B, consensus $1.62B. The company said, "For the second quarter of 2024, Fortive anticipates revenue of approximately $1.6 billion, diluted net earnings per share of $0.57 to $0.60 and adjusted diluted net earnings per share of $0.90 to $0.93."