Whittier Trust Co. Boosts Holdings in Graco Inc. (NYSE:GGG)

Whittier Trust Co. increased its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,672 shares of the industrial products company's stock after acquiring an additional 3,569 shares during the period. Whittier Trust Co. owned approximately 0.11% of Graco worth $15,672,000 at the end of the most recent reporting period.

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

Graco Price Performance

GGG stock traded up $0.52 during trading on Wednesday, hitting $86.48. 711,925 shares of the stock traded hands, compared to its average volume of 798,473. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86. The firm's 50 day moving average is $85.65 and its two-hundred day moving average is $83.97. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 2.91 and a beta of 1.06.

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

Graco Announces Dividend

The business also recently declared 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 1.27%. The ex-dividend date of this dividend is Monday, July 21st. Graco's payout ratio is presently 38.87%.

Analyst Upgrades and Downgrades

Separately, Wolfe Research started coverage on shares of Graco in a research report on Wednesday, June 18th. They set 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 company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $93.00.

Insider Activity

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

Graco Company 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.