Deutsche Bank AG Sells 18,483 Shares of Graco Inc. (NYSE:GGG)

Deutsche Bank AG cut its position in Graco Inc. (NYSE:GGG - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,913 shares of the industrial products company's stock after selling 18,483 shares during the quarter. Deutsche Bank AG owned about 0.22% of Graco worth $31,309,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Wood Tarver Financial Group LLC bought a new stake in shares of Graco during the 4th quarter valued at $46,000. Golden State Wealth Management LLC raised its stake in shares of Graco by 128.9% during the 1st quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 388 shares during the period. USA Financial Formulas raised its stake in shares of Graco by 43.6% during the 1st quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock valued at $88,000 after purchasing an additional 321 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in shares of Graco during the 1st quarter valued at $140,000. Finally, Fifth Third Bancorp raised its stake in shares of Graco by 21.1% during the 1st quarter. Fifth Third Bancorp now owns 1,834 shares of the industrial products company's stock valued at $153,000 after purchasing an additional 319 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Graco Stock Performance

Graco stock traded down $0.81 during midday trading on Friday, hitting $84.48. 498,311 shares of the company's stock were exchanged, compared to its average volume of 824,135. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $92.86. The stock has a 50-day moving average price of $85.66 and a two-hundred day moving average price of $84.10. The company has a market cap of $14.00 billion, a P/E ratio of 29.96, a PEG ratio of 2.96 and a beta of 1.04.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (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 firm had revenue of $571.81 million during the quarter, compared to analysts' expectations of $590.57 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. Graco's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, July 21st. Graco's dividend payout ratio is presently 39.01%.

Analysts Set New Price Targets

GGG has been the topic of a number of analyst reports. Wolfe Research initiated coverage on Graco in a research note on Wednesday, June 18th. They set an "outperform" rating on the stock. Robert W. Baird boosted their price objective on Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $94.50.

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.