Dimensional Fund Advisors LP lessened its stake in Graco Inc. (NYSE:GGG - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,281,693 shares of the industrial products company's stock after selling 23,639 shares during the quarter. Dimensional Fund Advisors LP owned about 0.77% of Graco worth $108,483,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in GGG. Whipplewood Advisors LLC grew its position in Graco by 2,650.0% in the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company's stock worth $28,000 after acquiring an additional 318 shares during the period. Field & Main Bank purchased a new stake in Graco in the fourth quarter valued at $41,000. Geneos Wealth Management Inc. lifted its stake in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 452 shares during the last quarter. Root Financial Partners LLC lifted its stake in shares of Graco by 43.2% in the 1st quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 152 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Graco by 41.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 746 shares of the industrial products company's stock worth $62,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors own 93.88% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on GGG shares. Wolfe Research downgraded Graco from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Robert W. Baird set a $94.00 target price on shares of Graco in a research note on Friday. Weiss Ratings cut shares of Graco from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, July 21st. DA Davidson reissued a "neutral" rating and issued a $85.00 price target on shares of Graco in a research note on Monday. Finally, Royal Bank Of Canada upped their price objective on shares of Graco from $92.00 to $96.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Graco presently has a consensus rating of "Hold" and an average target price of $95.00.
Check Out Our Latest Research Report on GGG
Graco Stock Performance
Shares of GGG opened at $82.11 on Wednesday. Graco Inc. has a 1 year low of $72.51 and a 1 year high of $95.69. The stock has a market capitalization of $13.30 billion, a PE ratio of 25.82, a PEG ratio of 2.56 and a beta of 0.93. The stock has a 50-day simple moving average of $75.29 and a 200-day simple moving average of $82.61.
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 for the quarter, topping analysts' consensus estimates of $0.81 by $0.10. The firm had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. Analysts predict that Graco Inc. will post 3.14 EPS for the current year.
Graco Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a dividend of $0.295 per share. The ex-dividend date is Monday, July 20th. This represents a $1.18 annualized dividend and a yield of 1.4%. Graco's payout ratio is presently 37.11%.
Graco Company Profile
(
Free Report)
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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