Equitable Trust Co. Has $928,000 Holdings in Graco Inc. $GGG

Key Points

• Equitable Trust Co. increased its holdings in Graco Inc. by 58.2% to reach a value of $928,000, following a purchase of 3,969 additional shares in the second quarter.
• Graco reported quarterly earnings of $0.75 per share, missing analyst expectations, with revenue of $571.81 million for the quarter, up 3.4% year-over-year.
• The company announced a quarterly dividend of $0.275 per share, set to be paid on November 5th, representing a $1.10 annualized dividend and a yield of 1.3%.

Equitable Trust Co. lifted its position in Graco Inc. (NYSE:GGG - Free Report) by 58.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,789 shares of the industrial products company's stock after purchasing an additional 3,969 shares during the quarter. Equitable Trust Co.'s holdings in Graco were worth $928,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Graco by 41.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company's stock worth $41,000 after acquiring an additional 141 shares during the period. Kestra Private Wealth Services LLC raised its position in Graco by 2.7% in the first quarter. Kestra Private Wealth Services LLC now owns 6,347 shares of the industrial products company's stock worth $530,000 after purchasing an additional 169 shares in the last quarter. Values First Advisors Inc. lifted its stake in Graco by 0.8% during the first quarter. Values First Advisors Inc. now owns 23,084 shares of the industrial products company's stock worth $1,927,000 after purchasing an additional 180 shares during the period. Resonant Capital Advisors LLC boosted its holdings in Graco by 5.5% during the first quarter. Resonant Capital Advisors LLC now owns 3,843 shares of the industrial products company's stock valued at $321,000 after purchasing an additional 202 shares in the last quarter. Finally, Trail Ridge Investment Advisors LLC grew its stake in shares of Graco by 3.9% in the 1st quarter. Trail Ridge Investment Advisors LLC now owns 5,654 shares of the industrial products company's stock valued at $472,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 93.88% of the company's stock.

Graco Price Performance

GGG stock opened at $82.04 on Wednesday. The business has a fifty day moving average price of $84.71 and a 200 day moving average price of $84.04. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 2.73 and a beta of 1.07.

Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The business had revenue of $571.81 million for the quarter, compared to analyst estimates of $590.57 million. During the same period in the prior year, the business earned $0.77 earnings per share. The company's revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts expect that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Monday, October 20th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.10 annualized dividend and a yield of 1.3%. Graco's dividend payout ratio is currently 39.01%.

Wall Street Analysts Forecast Growth

GGG has been the topic of several analyst reports. Wolfe Research initiated coverage on Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Graco in a research note on Wednesday, October 8th. Finally, Robert W. Baird upped 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. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.50.

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.

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