Amundi Buys 146,032 Shares of Graco Inc. $GGG

Amundi lifted its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 7.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,090,184 shares of the industrial products company's stock after acquiring an additional 146,032 shares during the period. Amundi owned 1.29% of Graco worth $158,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cassaday & Co Wealth Management LLC bought a new position in Graco in the first quarter worth approximately $26,000. Whipplewood Advisors LLC boosted its stake in Graco by 2,650.0% during the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Essential Partners LLC increased its holdings in Graco by 78.6% during the 1st quarter. Essential Partners LLC now owns 359 shares of the industrial products company's stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Elevation Wealth Partners LLC increased its holdings in Graco by 2,540.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company's stock worth $40,000 after purchasing an additional 508 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock worth $42,000 after purchasing an additional 452 shares during the last quarter. 93.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GGG shares. DA Davidson restated a "neutral" rating and issued a $85.00 target price on shares of Graco in a report on Monday, July 27th. Weiss Ratings upgraded Graco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Wolfe Research downgraded shares of Graco from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Royal Bank Of Canada upped their target price on shares of Graco from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, Robert W. Baird set a $94.00 target price on shares of Graco in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $95.00.

Graco Trading Down 1.0%

Graco stock opened at $77.08 on Wednesday. The business's 50 day simple moving average is $78.45 and its 200 day simple moving average is $80.72. Graco Inc. has a 12 month low of $72.51 and a 12 month high of $95.69. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 2.44 and a beta of 0.92.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The business had revenue of $590.55 million during the quarter, compared to the consensus estimate of $608.06 million. During the same period last year, the business posted $0.75 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Graco Inc. will post 3.19 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were given a $0.295 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. Graco's payout ratio is 37.11%.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco's solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company's product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.

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