Janney Montgomery Scott LLC reduced its holdings in Graco Inc. (NYSE:GGG - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 180,795 shares of the industrial products company's stock after selling 4,795 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.11% of Graco worth $15,098,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the business. Allianz Asset Management GmbH grew its stake in shares of Graco by 32.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company's stock worth $130,298,000 after purchasing an additional 374,967 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Graco by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,054,966 shares of the industrial products company's stock worth $88,923,000 after buying an additional 19,545 shares during the period. Whittier Trust Co. grew its position in shares of Graco by 3.4% in the 4th quarter. Whittier Trust Co. now owns 184,103 shares of the industrial products company's stock valued at $15,518,000 after buying an additional 6,041 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Graco by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 17,141,579 shares of the industrial products company's stock valued at $1,444,864,000 after buying an additional 183,335 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Graco in the fourth quarter valued at about $3,138,000. Institutional investors own 93.88% of the company's stock.
Insider Buying and Selling at Graco
In other Graco news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the sale, the insider now directly owns 27,520 shares of the company's stock, valued at approximately $2,373,049.60. The trade was a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.19% of the company's stock.
Analyst Ratings Changes
Separately, Wolfe Research began coverage on Graco in a research note on Wednesday. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Graco presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.00.
Check Out Our Latest Stock Analysis on Graco
Graco Price Performance
NYSE GGG traded up $0.99 during mid-day trading on Thursday, reaching $84.59. 850,744 shares of the stock were exchanged, compared to its average volume of 809,072. The stock has a market cap of $14.14 billion, a P/E ratio of 29.89, a P/E/G ratio of 2.83 and a beta of 1.07. Graco Inc. has a one year low of $72.06 and a one year high of $92.86. The stock has a 50 day simple moving average of $82.99 and a 200-day simple moving average of $84.04.
Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $528.28 million during the quarter, compared to the consensus estimate of $526.98 million. Graco had a return on equity of 19.42% and a net margin of 22.70%. The business's revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS. Sell-side analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.
Graco Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a yield of 1.30%. Graco's payout ratio is currently 38.87%.
About Graco
(
Free Report)
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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