Graco Inc. $GGG Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its holdings in Graco Inc. by 37.8%, selling 24,208 shares and now owning 39,767 shares valued at approximately $3.32 million.
• Graco's recent earnings report showed $0.75 earnings per share, missing estimates, with revenue of $571.81 million, below the expected $590.57 million.
• Analysts have a consensus price target of $94.50 for Graco, with three ratings as "Buy" and two as "Hold," and Robert W. Baird recently increased their target from $88.00 to $91.00.

Intech Investment Management LLC trimmed its position in Graco Inc. (NYSE:GGG - Free Report) by 37.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,767 shares of the industrial products company's stock after selling 24,208 shares during the quarter. Intech Investment Management LLC's holdings in Graco were worth $3,321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GGG. Kestra Private Wealth Services LLC boosted its holdings in shares of 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 valued at $530,000 after acquiring an additional 169 shares in the last quarter. Values First Advisors Inc. boosted its holdings in shares of Graco by 0.8% in the first quarter. Values First Advisors Inc. now owns 23,084 shares of the industrial products company's stock valued at $1,927,000 after acquiring an additional 180 shares in the last quarter. Optas LLC boosted its holdings in shares of Graco by 6.0% in the first quarter. Optas LLC now owns 3,560 shares of the industrial products company's stock valued at $297,000 after acquiring an additional 200 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of Graco by 5.5% in the first quarter. Resonant Capital Advisors LLC now owns 3,843 shares of the industrial products company's stock valued at $321,000 after acquiring an additional 202 shares in the last quarter. Finally, Trail Ridge Investment Advisors LLC boosted its holdings in shares of Graco by 3.9% in the first quarter. Trail Ridge Investment Advisors LLC now owns 5,654 shares of the industrial products company's stock valued at $472,000 after acquiring an additional 210 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Stock Up 0.3%

Shares of GGG traded up $0.24 on Thursday, hitting $85.04. 633,223 shares of the stock traded hands, compared to its average volume of 566,506. The firm has a market capitalization of $14.09 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.87 and a beta of 1.03. The stock's 50 day moving average is $85.33 and its two-hundred day moving average is $84.12. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The firm had revenue of $571.81 million for the quarter, compared to analysts' expectations of $590.57 million. During the same period in the previous year, the company posted $0.77 EPS. The business's quarterly revenue was up 3.4% on a year-over-year basis. Research analysts forecast that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The business 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. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, October 20th. Graco's dividend payout ratio (DPR) is currently 39.01%.

Analyst Ratings Changes

Several research firms have issued reports on GGG. Wolfe Research initiated coverage on Graco in a research report on Wednesday, June 18th. They issued an "outperform" rating for the company. Robert W. Baird boosted their price target on Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.50.

Graco 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.