Graco Inc. (NYSE:GGG) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,837 shares of the industrial products company's stock after selling 8,556 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.11% of Graco worth $15,767,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of GGG. TD Private Client Wealth LLC lifted its holdings in shares of Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after acquiring an additional 190 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new position in shares of Graco in the 4th quarter worth approximately $46,000. Golden State Wealth Management LLC grew its position in shares of Graco by 128.9% in the 1st quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock worth $58,000 after buying an additional 388 shares during the last quarter. Sit Investment Associates Inc. acquired a new stake in Graco in the 4th quarter worth approximately $80,000. Finally, USA Financial Formulas boosted its stake in Graco by 43.6% in the 1st quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock worth $88,000 after purchasing an additional 321 shares in the last quarter. Institutional investors own 93.88% of the company's stock.

Graco Stock Performance

Shares of GGG traded down $1.17 during trading hours on Friday, hitting $87.64. The stock had a trading volume of 628,133 shares, compared to its average volume of 799,823. The firm has a 50-day moving average price of $85.29 and a 200 day moving average price of $83.91. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86. The firm has a market capitalization of $14.65 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.00 and a beta of 1.06.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The company had revenue of $528.28 million during the quarter, compared to analysts' expectations of $526.98 million. Graco had a net margin of 22.70% and a return on equity of 19.42%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, analysts predict that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Monday, July 21st. Graco's payout ratio is 38.87%.

Insider Activity

In other news, insider David J. Thompson sold 3,588 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the sale, the insider owned 27,520 shares of the company's stock, valued at $2,373,049.60. This represents a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research initiated coverage on shares of Graco in a research note on Wednesday, June 18th. They set an "outperform" rating for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.00.

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.