Graco Inc. (NYSE:GGG) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. trimmed its holdings in Graco Inc. (NYSE:GGG - Free Report) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 624,301 shares of the industrial products company's stock after selling 69,238 shares during the period. Baird Financial Group Inc. owned approximately 0.37% of Graco worth $52,622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BLI Banque de Luxembourg Investments bought a new stake in Graco during the fourth quarter worth about $14,327,000. Ameriprise Financial Inc. increased its position in shares of Graco by 1.5% during the fourth quarter. Ameriprise Financial Inc. now owns 673,240 shares of the industrial products company's stock valued at $56,740,000 after buying an additional 10,041 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Graco during the 4th quarter valued at $27,478,000. Aptus Capital Advisors LLC grew its holdings in Graco by 24.2% in the fourth quarter. Aptus Capital Advisors LLC now owns 73,567 shares of the industrial products company's stock worth $6,201,000 after purchasing an additional 14,322 shares during the period. Finally, Aspire Growth Partners LLC bought a new position in Graco during the 4th quarter valued at approximately $255,000. 93.88% of the stock is currently owned by institutional investors.

Graco Stock Performance

NYSE GGG traded up $0.48 during trading on Wednesday, hitting $82.08. The stock had a trading volume of 659,596 shares, compared to its average volume of 814,661. The stock has a 50 day simple moving average of $81.61 and a 200 day simple moving average of $84.45. Graco Inc. has a one year low of $72.06 and a one year high of $92.86. The stock has a market capitalization of $13.72 billion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 2.85 and a beta of 1.09.

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

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.34%. The ex-dividend date is Monday, April 14th. Graco's dividend payout ratio is currently 38.87%.

Analysts Set New Price Targets

Separately, DA Davidson set a $85.00 price target on Graco in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Graco presently has a consensus rating of "Hold" and a consensus target price of $93.00.

Graco Company 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.