W.W. Grainger (NYSE:GWW) Given New $972.00 Price Target at Royal Bank of Canada

W.W. Grainger (NYSE:GWW) had its target price cut by Royal Bank of Canada from $978.00 to $972.00 in a report published on Friday morning, Benzinga reports. They currently have a sector perform rating on the industrial products company’s stock.

A number of other brokerages also recently commented on GWW. Robert W. Baird downgraded W.W. Grainger from an outperform rating to a neutral rating and lowered their target price for the stock from $1,000.00 to $975.00 in a research note on Wednesday, May 29th. Stephens upgraded shares of W.W. Grainger from an equal weight rating to an overweight rating and boosted their price target for the stock from $1,000.00 to $1,250.00 in a research report on Monday, April 29th. StockNews.com lowered shares of W.W. Grainger from a buy rating to a hold rating in a report on Wednesday, May 29th. Erste Group Bank reaffirmed a hold rating on shares of W.W. Grainger in a research note on Friday, June 14th. Finally, Baird R W lowered W.W. Grainger from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $1,017.13.

W.W. Grainger Stock Performance

W.W. Grainger stock traded up $5.50 during midday trading on Friday, hitting $958.29. The stock had a trading volume of 115,902 shares, compared to its average volume of 246,223. The company has a current ratio of 2.30, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $924.85 and its two-hundred day moving average is $946.05. The company has a market capitalization of $47.02 billion, a PE ratio of 26.31, a P/E/G ratio of 1.85 and a beta of 1.17. W.W. Grainger has a 52-week low of $674.41 and a 52-week high of $1,034.18.

W.W. Grainger (NYSE:GWW) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $9.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.58 by $0.18. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.35 billion. W.W. Grainger had a return on equity of 53.25% and a net margin of 10.86%. W.W. Grainger’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.28 EPS. On average, research analysts forecast that W.W. Grainger will post 39.1 EPS for the current year.

W.W. Grainger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Monday, August 12th will be given a $2.05 dividend. This represents a $8.20 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, August 12th. W.W. Grainger’s dividend payout ratio is presently 22.64%.

Insiders Place Their Bets

In related news, SVP Matt Fortin sold 511 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $915.20, for a total transaction of $467,667.20. Following the transaction, the senior vice president now owns 1,848 shares in the company, valued at $1,691,289.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On W.W. Grainger

Large investors have recently modified their holdings of the stock. Bfsg LLC purchased a new position in W.W. Grainger during the 1st quarter valued at about $26,000. Valued Wealth Advisors LLC boosted 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 valued at $27,000 after purchasing an additional 17 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of W.W. Grainger during the 4th quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of W.W. Grainger during the 4th quarter worth approximately $30,000. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of W.W. Grainger by 275.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 45 shares of the industrial products company’s stock valued at $37,000 after buying an additional 33 shares in the last quarter. 80.70% of the stock is owned by institutional investors.

About W.W. Grainger

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.