Buckingham Research analyst Robert Barry initiated Grainger with a Neutral rating and a price target of $325, anticipating 12% EPS growth in 2019 but "little opportunity" for multiple expansion. The analyst notes that the current valuation on the stock is "reasonable" but not "compelling", even though he is positive on company's "defensive characteristics" at the current "advanced stage" of the U.S. macro cycle. Barry further states that Grainger's Q4 guidance is likely to be consistent with the Street consensus.

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.