Raymond James & Associates increased its position in Graco Inc. (NYSE:GGG) by 14.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 441,816 shares of the industrial products company’s stock after buying an additional 56,680 shares during the period. Raymond James & Associates owned 0.27% of Graco worth $21,203,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GGG. People s United Financial Inc. increased its holdings in shares of Graco by 1.6% during the 1st quarter. People s United Financial Inc. now owns 15,552 shares of the industrial products company’s stock valued at $758,000 after acquiring an additional 247 shares during the last quarter. Carlson Capital Management lifted its stake in shares of Graco by 1.6% in the first quarter. Carlson Capital Management now owns 19,143 shares of the industrial products company’s stock worth $854,000 after buying an additional 300 shares during the last quarter. Cigna Investments Inc. New lifted its stake in shares of Graco by 0.9% in the first quarter. Cigna Investments Inc. New now owns 31,987 shares of the industrial products company’s stock worth $1,559,000 after buying an additional 300 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Graco by 24.5% during the 1st quarter. Signaturefd LLC now owns 2,081 shares of the industrial products company’s stock worth $101,000 after buying an additional 410 shares during the period. Finally, Cetera Investment Advisers grew its stake in Graco by 10.3% in the 1st quarter. Cetera Investment Advisers now owns 4,752 shares of the industrial products company’s stock valued at $232,000 after buying an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.
A number of equities research analysts have issued reports on GGG shares. Royal Bank of Canada decreased their price target on shares of Graco from $47.00 to $43.00 and set a “sector perform” rating for the company in a report on Friday, April 24th. DA Davidson lowered their target price on Graco from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 21st. Jefferies Financial Group lifted their price target on Graco from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. Finally, Robert W. Baird increased their price objective on Graco from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $52.60.
In related news, Director Martha A. M. Morfitt sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $47.00, for a total transaction of $2,115,000.00. Following the completion of the transaction, the director now owns 241,869 shares in the company, valued at approximately $11,367,843. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick J. Mchale sold 184,575 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $54.21, for a total value of $10,005,810.75. Following the completion of the sale, the chief executive officer now directly owns 382,164 shares in the company, valued at approximately $20,717,110.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,454 shares of company stock valued at $15,612,820. Corporate insiders own 4.12% of the company’s stock.
Shares of GGG opened at $53.24 on Friday. The stock’s 50-day moving average price is $49.67 and its 200 day moving average price is $49.28. The company has a quick ratio of 2.41, a current ratio of 3.35 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 31.69, a P/E/G ratio of 4.24 and a beta of 0.57. Graco Inc. has a 12-month low of $38.43 and a 12-month high of $56.99.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.11. The business had revenue of $366.89 million for the quarter, compared to analysts’ expectations of $326.13 million. Graco had a return on equity of 28.29% and a net margin of 17.42%. Equities research analysts expect that Graco Inc. will post 1.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, July 17th. Graco’s dividend payout ratio (DPR) is presently 36.84%.
Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.
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