Graco’s (GGG) “Hold” Rating Reiterated at Robert W. Baird

Robert W. Baird reissued their hold rating on shares of Graco Inc. (NYSE:GGG) in a report released on Friday. The firm currently has a $135.00 price objective on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Graco from a hold rating to a buy rating and set a $127.00 target price on the stock in a report on Monday, July 31st. BidaskClub upgraded shares of Graco from a hold rating to a buy rating in a report on Friday, August 18th. FBR & Co set a $140.00 target price on shares of Graco and gave the stock a hold rating in a report on Thursday. KeyCorp restated a hold rating on shares of Graco in a report on Friday, October 20th. Finally, Royal Bank Of Canada restated a hold rating on shares of Graco in a report on Friday, July 28th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $116.75.

Graco (NYSE:GGG) traded down 1.33% during trading on Friday, reaching $131.10. The company had a trading volume of 122,572 shares. The firm’s 50 day moving average price is $123.86 and its 200 day moving average price is $113.32. Graco has a 12-month low of $73.40 and a 12-month high of $134.11. The firm has a market capitalization of $7.34 billion, a PE ratio of 83.19 and a beta of 1.25.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. Graco had a net margin of 7.72% and a return on equity of 42.05%. The company had revenue of $379.81 million for the quarter, compared to analysts’ expectations of $356.30 million. During the same quarter last year, the company posted $0.95 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts forecast that Graco will post $4.57 EPS for the current year.

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The firm 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 dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, October 13th. Graco’s dividend payout ratio is presently 75.79%.

In other news, Director Eric Etchart sold 757 shares of Graco stock in a transaction on Friday, September 15th. The shares were sold at an average price of $119.20, for a total transaction of $90,234.40. Following the transaction, the director now owns 12,464 shares in the company, valued at approximately $1,485,708.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David M. Lowe sold 30,000 shares of Graco stock in a transaction on Friday, September 8th. The stock was sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the transaction, the insider now owns 164,809 shares in the company, valued at approximately $19,035,439.50. The disclosure for this sale can be found here. Insiders have sold a total of 132,516 shares of company stock worth $6,359,179 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Several institutional investors have recently modified their holdings of GGG. Advisors Asset Management Inc. boosted its stake in shares of Graco by 106.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 578 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Graco by 200.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 800 shares during the last quarter. Fiduciary Trust Co. purchased a new position in shares of Graco during the 2nd quarter worth $180,000. Mosaic Family Wealth LLC boosted its stake in shares of Graco by 5.1% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 91 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Graco during the 1st quarter worth $206,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

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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