Hsbc Holdings PLC Buys 176,739 Shares of Graco Inc. $GGG

Key Points

• HSBC Holdings PLC increased its stake in Graco by 29% in the fourth quarter, buying 176,739 additional shares and bringing its total holding to 786,697 shares worth about $64.5 million.
• Analysts remain cautious on Graco, with the consensus rating at Hold and an average price target of $94.25 after several firms reiterated neutral or hold-like views.
• Graco recently reported mixed quarterly results, missing earnings and revenue estimates, while also announcing a quarterly dividend of $0.295 per share to be paid on August 5.

Hsbc Holdings PLC increased its position in Graco Inc. (NYSE:GGG - Free Report) by 29.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 786,697 shares of the industrial products company's stock after buying an additional 176,739 shares during the quarter. Hsbc Holdings PLC owned 0.48% of Graco worth $64,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its position in shares of Graco by 42.6% in the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 139 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock worth $42,000 after purchasing an additional 452 shares during the period. Field & Main Bank bought a new stake in shares of Graco in the fourth quarter worth about $41,000. Matrix Trust Co grew its stake in shares of Graco by 43.0% in the fourth quarter. Matrix Trust Co now owns 555 shares of the industrial products company's stock worth $45,000 after purchasing an additional 167 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Graco by 41.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 746 shares of the industrial products company's stock valued at $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.

Analysts Set New Price Targets

GGG has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a "neutral" rating and set a $85.00 price target on shares of Graco in a research report on Monday, April 27th. Robert W. Baird reduced their target price on Graco from $96.00 to $92.00 and set a "neutral" rating on the stock in a research note on Friday, April 24th. Weiss Ratings downgraded Graco from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, June 5th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 price target on shares of Graco in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $94.25.

Graco Price Performance

Shares of GGG opened at $75.54 on Tuesday. The company has a 50-day simple moving average of $78.35 and a two-hundred day simple moving average of $84.01. The firm has a market capitalization of $12.54 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 2.45 and a beta of 0.93. Graco Inc. has a one year low of $73.26 and a one year high of $95.69.

Graco (NYSE:GGG - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.09). The firm had revenue of $540.14 million for the quarter, compared to analysts' expectations of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm's revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. Analysts expect that Graco Inc. will post 3.1 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be issued a $0.295 dividend. The ex-dividend date is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. Graco's dividend payout ratio is 38.44%.

Insider Transactions at Graco

In other news, Director Andrea Helen Simon acquired 1,240 shares of the stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the transaction, the director owned 1,240 shares of the company's stock, valued at $99,857.20. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.18% of the company's stock.

Graco Profile

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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