Allianz Asset Management GmbH Has $37.17 Million Stock Holdings in Graco Inc. (NYSE:GGG)

Allianz Asset Management GmbH lessened its holdings in Graco Inc. (NYSE:GGG - Free Report) by 71.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 445,055 shares of the industrial products company's stock after selling 1,100,791 shares during the period. Allianz Asset Management GmbH owned 0.27% of Graco worth $37,170,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its position in Graco by 118.0% during the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after buying an additional 190 shares during the period. Wood Tarver Financial Group LLC bought a new position in Graco during the 4th quarter worth $46,000. Golden State Wealth Management LLC increased its position in Graco by 128.9% during the 1st quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock worth $58,000 after buying an additional 388 shares during the period. Sit Investment Associates Inc. bought a new position in Graco during the 4th quarter worth $80,000. Finally, USA Financial Formulas increased its position in Graco by 43.6% during the 1st quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock worth $88,000 after buying an additional 321 shares during the period. Institutional investors own 93.88% of the company's stock.

Analysts Set New Price Targets

GGG has been the topic of several recent research reports. Wolfe Research initiated coverage on Graco in a research report on Wednesday, June 18th. They set an "outperform" rating on the stock. Robert W. Baird increased their price objective on Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.50.

Graco Stock Performance

Shares of NYSE GGG traded down $0.30 during mid-day trading on Friday, reaching $84.54. The company had a trading volume of 1,292,341 shares, compared to its average volume of 741,922. Graco Inc. has a one year low of $72.06 and a one year high of $92.86. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 2.86 and a beta of 1.06. The business's 50-day simple moving average is $85.79 and its 200 day simple moving average is $84.12.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Graco had a return on equity of 19.05% and a net margin of 22.26%. The company had revenue of $571.81 million during the quarter, compared to the consensus estimate of $590.57 million. During the same quarter in the previous year, the business posted $0.77 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts anticipate 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, August 6th. Investors of record on Monday, July 21st will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Monday, July 21st. Graco's payout ratio is currently 39.01%.

Insider Activity at Graco

In related news, insider David J. Thompson sold 3,588 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total value of $309,393.24. Following the sale, the insider directly owned 27,520 shares of the company's stock, valued at $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.19% of the company's stock.

About Graco

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.