Raymond James Trust N.A. cut its holdings in Graco Inc. (NYSE:GGG) by 28.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,079 shares of the industrial products company’s stock after selling 830 shares during the period. Raymond James Trust N.A.’s holdings in Graco were worth $257,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Graco by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock worth $545,481,000 after purchasing an additional 104,725 shares in the last quarter. BlackRock Inc. lifted its holdings in Graco by 1.0% in the 2nd quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock worth $482,397,000 after purchasing an additional 43,669 shares in the last quarter. Fiera Capital Corp lifted its holdings in Graco by 7.3% in the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock worth $330,196,000 after purchasing an additional 206,130 shares in the last quarter. State Street Corp lifted its holdings in Graco by 3.2% in the 1st quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock worth $137,974,000 after purchasing an additional 45,636 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Graco by 59.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock worth $61,463,000 after purchasing an additional 244,321 shares in the last quarter. 86.91% of the stock is currently owned by institutional investors.
A number of research firms recently commented on GGG. Robert W. Baird reissued a “hold” rating and issued a $135.00 price target on shares of Graco in a report on Friday. SunTrust Banks, Inc. reissued a “hold” rating and issued a $128.00 price target on shares of Graco in a report on Friday. FBR & Co set a $140.00 price target on Graco and gave the stock a “hold” rating in a report on Thursday. KeyCorp reissued a “hold” rating on shares of Graco in a report on Friday, October 20th. Finally, Wolfe Research reissued a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $116.75.
In other news, VP David M. Ahlers sold 22,500 shares of Graco stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $120.01, for a total value of $2,700,225.00. Following the sale, the vice president now directly owns 42,047 shares of the company’s stock, valued at $5,046,060.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric Etchart sold 757 shares of Graco stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $119.20, for a total value of $90,234.40. Following the completion of the sale, the director now directly owns 12,464 shares in the company, valued at $1,485,708.80. The disclosure for this sale can be found here. Insiders sold 132,516 shares of company stock worth $6,359,179 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.
Shares of Graco Inc. (NYSE:GGG) opened at 132.87 on Friday. Graco Inc. has a one year low of $73.40 and a one year high of $134.11. The stock’s 50 day moving average price is $123.86 and its 200 day moving average price is $113.32. The stock has a market capitalization of $7.44 billion, a PE ratio of 84.31 and a beta of 1.25.
Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.09. The firm had revenue of $379.81 million for the quarter, compared to analyst estimates of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. Equities research analysts predict that Graco Inc. will post $4.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, October 13th. Graco’s dividend payout ratio is presently 75.79%.
Graco Company Profile
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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