Wolfe Research started coverage on shares of Graco Inc. (NYSE:GGG) in a research note released on Tuesday, July 11th. The firm issued an underperform rating and a $100.00 price target on the industrial products company’s stock.
A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Graco from a buy rating to a hold rating in a research report on Monday, July 10th. BidaskClub downgraded Graco from a strong-buy rating to a buy rating in a research report on Thursday, June 22nd. Deutsche Bank AG reissued a hold rating and set a $110.00 price objective (up from $105.00) on shares of Graco in a research report on Monday, June 5th. Royal Bank Of Canada reissued a hold rating and set a $104.00 price objective on shares of Graco in a research report on Monday, June 5th. Finally, TheStreet raised Graco from a c+ rating to a b+ rating in a research report on Thursday, April 27th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $106.20.
Shares of Graco (NYSE:GGG) traded up 0.17% during midday trading on Tuesday, reaching $112.66. 194,611 shares of the company traded hands. Graco has a 1-year low of $69.33 and a 1-year high of $116.75. The firm has a market capitalization of $6.31 billion, a PE ratio of 71.48 and a beta of 1.25. The stock has a 50 day moving average price of $110.73 and a 200 day moving average price of $102.17.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.32. The firm had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. Graco had a return on equity of 52.55% and a net margin of 21.04%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. Analysts expect that Graco will post $4.52 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, July 13th. Graco’s dividend payout ratio is currently 92.90%.
In other news, Director Eric Etchart sold 793 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $113.90, for a total transaction of $90,322.70. Following the completion of the transaction, the director now directly owns 11,224 shares of the company’s stock, valued at $1,278,413.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Karen Park Gallivan sold 12,242 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $1,407,830.00. Following the transaction, the vice president now directly owns 27,264 shares of the company’s stock, valued at $3,135,360. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,021 shares of company stock valued at $6,484,484. 5.70% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. BB&T Corp increased its position in shares of Graco by 0.4% in the second quarter. BB&T Corp now owns 2,567 shares of the industrial products company’s stock worth $280,000 after buying an additional 11 shares in the last quarter. Somerset Trust Co increased its position in shares of Graco by 0.4% in the second quarter. Somerset Trust Co now owns 5,093 shares of the industrial products company’s stock worth $557,000 after buying an additional 21 shares in the last quarter. BB&T Securities LLC increased its position in shares of Graco by 0.5% in the second quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock worth $757,000 after buying an additional 36 shares in the last quarter. Profund Advisors LLC increased its position in shares of Graco by 0.5% in the first quarter. Profund Advisors LLC now owns 7,738 shares of the industrial products company’s stock worth $728,000 after buying an additional 37 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in shares of Graco by 0.6% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 9,651 shares of the industrial products company’s stock worth $909,000 after buying an additional 54 shares in the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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