Invesco Ltd. Purchases 28,795 Shares of Graco Inc. $GGG

Key Points

• Invesco Ltd. has increased its stake in Graco Inc. by 1.6%, owning approximately 1.09% of the company, valued at $152.74 million.
• Graco reported earnings of $0.75 per share for the recent quarter, which missed estimates by $0.03, with quarterly revenue at $571.81 million.
• The company recently declared a quarterly dividend of $0.275 per share, translating to an annual yield of 1.3%.

Invesco Ltd. grew its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,828,962 shares of the industrial products company's stock after purchasing an additional 28,795 shares during the quarter. Invesco Ltd. owned approximately 1.09% of Graco worth $152,737,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wood Tarver Financial Group LLC bought a new position in shares of Graco in the fourth quarter worth approximately $46,000. Golden State Wealth Management LLC boosted its position in shares of Graco by 128.9% in the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock worth $58,000 after purchasing an additional 388 shares during the period. USA Financial Formulas boosted its position in shares of Graco by 43.6% in the first 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 during the period. ASR Vermogensbeheer N.V. bought a new position in shares of Graco in the first quarter worth approximately $140,000. Finally, Fifth Third Bancorp boosted its position in shares of Graco by 21.1% in the first quarter. Fifth Third Bancorp now owns 1,834 shares of the industrial products company's stock worth $153,000 after purchasing an additional 319 shares during the period. Hedge funds and other institutional investors own 93.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GGG. Wolfe Research began coverage on shares of Graco in a report on Wednesday, June 18th. They set an "outperform" rating for the company. Robert W. Baird increased their price objective on shares of Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $94.50.

Graco Trading Up 0.5%

Shares of NYSE GGG traded up $0.40 during mid-day trading on Monday, reaching $84.80. The company had a trading volume of 206,023 shares, compared to its average volume of 820,075. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The business's 50-day moving average is $85.65 and its 200-day moving average is $84.13.

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

Graco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 21st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, July 21st. Graco's dividend payout ratio (DPR) is currently 39.01%.

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.