Graco Inc. (NYSE:GGG) Shares Bought by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc boosted its stake in Graco Inc. (NYSE:GGG - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,344 shares of the industrial products company's stock after acquiring an additional 4,537 shares during the period. Marks Group Wealth Management Inc owned about 0.06% of Graco worth $8,129,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GGG. CWM LLC lifted its holdings in shares of Graco by 72.4% in the 1st quarter. CWM LLC now owns 2,908 shares of the industrial products company's stock valued at $243,000 after purchasing an additional 1,221 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Graco by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 47,300 shares of the industrial products company's stock worth $3,950,000 after buying an additional 400 shares during the period. State of Michigan Retirement System increased its position in Graco by 0.9% during the first quarter. State of Michigan Retirement System now owns 42,964 shares of the industrial products company's stock worth $3,588,000 after buying an additional 400 shares during the period. Cerity Partners LLC lifted its stake in Graco by 55.4% in the first quarter. Cerity Partners LLC now owns 27,513 shares of the industrial products company's stock valued at $2,298,000 after buying an additional 9,811 shares during the last quarter. Finally, Bridges Investment Management Inc. boosted its holdings in shares of Graco by 12.0% in the first quarter. Bridges Investment Management Inc. now owns 138,824 shares of the industrial products company's stock valued at $11,593,000 after acquiring an additional 14,859 shares during the period. Institutional investors and hedge funds own 93.88% of the company's stock.

Insiders Place Their Bets

In other news, insider David J. Thompson sold 3,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the sale, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.19% of the company's stock.

Graco Stock Down 1.3%

GGG stock traded down $1.17 during trading on Friday, hitting $87.64. The company had a trading volume of 628,133 shares, compared to its average volume of 800,598. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.86. The firm has a 50-day moving average price of $85.38 and a 200-day moving average price of $83.93. The firm has a market cap of $14.65 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.97 and a beta of 1.06.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 EPS 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 the consensus estimate of $526.98 million. Graco had a net margin of 22.70% and a return on equity of 19.42%. Graco's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. Sell-side analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, July 21st will be given 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 1.26%. Graco's payout ratio is currently 38.87%.

Analyst Upgrades and Downgrades

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

Graco 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.