Aspire Growth Partners LLC Purchases Shares of 3,020 Graco Inc. (NYSE:GGG)

Aspire Growth Partners LLC acquired a new position in Graco Inc. (NYSE:GGG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,020 shares of the industrial products company's stock, valued at approximately $255,000.

Several other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Graco in the fourth quarter worth $25,000. TD Private Client Wealth LLC boosted its position in shares of Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after purchasing an additional 190 shares in the last quarter. National Pension Service purchased a new position in Graco during the 4th quarter worth $34,000. Whipplewood Advisors LLC acquired a new position in Graco during the 4th quarter valued at about $37,000. Finally, Brooklyn Investment Group raised its stake in Graco by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock valued at $41,000 after buying an additional 136 shares during the last quarter. Institutional investors own 93.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GGG shares. DA Davidson set a $85.00 price target on Graco in a research note on Friday, January 31st. Royal Bank of Canada boosted their target price on shares of Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $93.00.

Graco Stock Up 2.0 %

Shares of NYSE:GGG opened at $83.30 on Friday. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $92.86. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 2.85 and a beta of 0.92. The business has a 50-day moving average price of $81.87 and a 200-day moving average price of $84.53.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The company had revenue of $528.28 million during the quarter, compared to analyst estimates of $526.98 million. Graco had a net margin of 23.00% and a return on equity of 19.38%. Graco's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. As a group, equities analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Monday, April 14th. Graco's payout ratio is 38.87%.

Graco Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.

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