Graco Inc. (NYSE:GGG) – Analysts at Oppenheimer Holdings raised their FY2018 EPS estimates for Graco in a research note issued on Thursday. Oppenheimer Holdings analyst J. Giannakouros now expects that the industrial products company will post earnings per share of $4.70 for the year, up from their prior estimate of $4.40. Oppenheimer Holdings also issued estimates for Graco’s FY2019 earnings at $5.00 EPS.
Several other brokerages have also recently weighed in on GGG. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a research note on Monday, July 31st. Wolfe Research upgraded shares of Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 price objective on the stock in a research report on Monday, July 31st. SunTrust Banks, Inc. reiterated a “hold” rating and set a $128.00 price objective on shares of Graco in a research report on Friday. FBR & Co set a $140.00 price objective on shares of Graco and gave the company a “hold” rating in a research report on Thursday. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Graco in a report on Friday, July 28th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $116.75.
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Shares of Graco (NYSE:GGG) traded down 0.69% during mid-day trading on Monday, reaching $131.95. 31,015 shares of the company’s stock traded hands. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 83.72 and a beta of 1.25. Graco has a 12-month low of $73.40 and a 12-month high of $134.11. The firm’s 50 day moving average price is $123.86 and its 200-day moving average price is $113.32.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.09. The business had revenue of $379.81 million for the quarter, compared to analysts’ expectations of $356.30 million. Graco had a net margin of 7.72% and a return on equity of 42.05%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share.
Several institutional investors and hedge funds have recently modified their holdings of GGG. BlackRock Inc. increased its stake in shares of Graco by 13,639.9% in the 1st quarter. BlackRock Inc. now owns 4,370,674 shares of the industrial products company’s stock worth $411,455,000 after acquiring an additional 4,338,864 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Graco during the 2nd quarter worth $582,000. Janus Henderson Group PLC purchased a new position in shares of Graco during the 2nd quarter worth $33,167,000. Goldman Sachs Group Inc. grew its holdings in shares of Graco by 59.8% during 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 during the period. Finally, Fiera Capital Corp grew its holdings in shares of Graco by 7.3% during 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 during the period. 87.18% of the stock is owned by institutional investors and hedge funds.
In related news, insider David M. Lowe sold 30,000 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $115.50, for a total value of $3,465,000.00. Following the completion of the transaction, the insider now directly owns 164,809 shares of the company’s stock, valued at approximately $19,035,439.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Etchart sold 757 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $119.20, for a total value of $90,234.40. Following the completion of the transaction, the director now directly owns 12,464 shares of the company’s stock, valued at $1,485,708.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,516 shares of company stock worth $6,359,179. Insiders own 5.70% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th will be given a $0.36 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.44 annualized dividend and a yield of 1.08%. 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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