Royal Bank of Canada Trims W.W. Grainger (NYSE:GWW) Target Price to $972.00

W.W. Grainger (NYSE:GWW) had its target price decreased by stock analysts at Royal Bank of Canada from $978.00 to $972.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 2.02% from the company’s current price.

GWW has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on W.W. Grainger from $1,000.00 to $1,015.00 and gave the company a “neutral” rating in a research report on Friday. Loop Capital decreased their price objective on W.W. Grainger from $1,000.00 to $975.00 and set a “hold” rating for the company in a report on Monday, April 29th. StockNews.com lowered W.W. Grainger from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Erste Group Bank reissued a “hold” rating on shares of W.W. Grainger in a report on Friday, June 14th. Finally, Robert W. Baird downgraded W.W. Grainger from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $1,000.00 to $975.00 in a research note on Wednesday, May 29th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $1,017.13.

W.W. Grainger Stock Up 1.1 %

NYSE GWW traded up $10.43 on Friday, reaching $952.79. The company had a trading volume of 361,133 shares, compared to its average volume of 247,104. The stock has a market capitalization of $46.75 billion, a P/E ratio of 26.31, a P/E/G ratio of 1.92 and a beta of 1.17. The company’s fifty day moving average is $925.13 and its 200 day moving average is $943.81. W.W. Grainger has a 52-week low of $674.41 and a 52-week high of $1,034.18. The company has a quick ratio of 1.33, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

W.W. Grainger (NYSE:GWW) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $9.76 EPS for the quarter, beating analysts’ consensus estimates of $9.58 by $0.18. W.W. Grainger had a return on equity of 54.31% and a net margin of 10.94%. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same period in the prior year, the firm posted $9.28 EPS. W.W. Grainger’s quarterly revenue was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that W.W. Grainger will post 39.19 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On W.W. Grainger

A number of large investors have recently bought and sold shares of GWW. Norges Bank bought a new stake in W.W. Grainger in the fourth quarter worth $392,470,000. Clearbridge Investments LLC lifted its holdings in W.W. Grainger by 17.4% in the first quarter. Clearbridge Investments LLC now owns 1,148,051 shares of the industrial products company’s stock valued at $1,167,913,000 after acquiring an additional 169,897 shares during the period. Swedbank AB bought a new position in W.W. Grainger in the first quarter valued at about $159,365,000. International Assets Investment Management LLC raised its stake in shares of W.W. Grainger by 82,775.0% in the fourth quarter. International Assets Investment Management LLC now owns 43,095 shares of the industrial products company’s stock worth $35,712,000 after buying an additional 43,043 shares during the period. Finally, FIL Ltd raised its stake in shares of W.W. Grainger by 21.4% in the fourth quarter. FIL Ltd now owns 240,856 shares of the industrial products company’s stock worth $199,595,000 after buying an additional 42,395 shares during the period. 80.70% of the stock is owned by hedge funds and other 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.