Massachusetts Financial Services Co. MA cut its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,411,232 shares of the industrial products company's stock after selling 120,462 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.85% of Graco worth $115,679,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Graco by 432.6% during the 3rd quarter. Nordea Investment Management AB now owns 85,654 shares of the industrial products company's stock worth $7,263,000 after purchasing an additional 69,573 shares during the last quarter. Raiffeisen Bank International AG increased its holdings in Graco by 191.8% during the 3rd quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company's stock worth $744,000 after purchasing an additional 5,790 shares during the last quarter. Swiss Life Asset Management Ltd increased its holdings in Graco by 40.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company's stock worth $3,869,000 after purchasing an additional 13,130 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Graco by 154.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 64,341 shares of the industrial products company's stock worth $5,466,000 after purchasing an additional 39,031 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Graco during the 4th quarter worth approximately $3,527,000. 93.88% of the stock is currently owned by hedge funds and other institutional investors.
Graco Price Performance
NYSE:GGG opened at $88.17 on Tuesday. Graco Inc. has a 12-month low of $75.91 and a 12-month high of $95.69. The firm has a market capitalization of $14.62 billion, a P/E ratio of 28.53, a P/E/G ratio of 2.75 and a beta of 1.09. The business has a 50 day simple moving average of $89.28 and a 200 day simple moving average of $85.42.
Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The business had revenue of $593.16 million during the quarter, compared to analyst estimates of $591.99 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.
Graco Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 13th will be given a dividend of $0.295 per share. The ex-dividend date is Monday, April 13th. This represents a $1.18 dividend on an annualized basis and a yield of 1.3%. Graco's payout ratio is currently 38.19%.
Insider Buying and Selling
In other Graco news, insider Timothy R. White sold 1,469 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total value of $133,238.30. Following the sale, the insider owned 51,430 shares in the company, valued at approximately $4,664,701. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Kevin Gilligan sold 12,870 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $89.07, for a total transaction of $1,146,330.90. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 19,394 shares of company stock worth $1,739,326. 2.18% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on GGG. Jefferies Financial Group lifted their target price on Graco from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Weiss Ratings upgraded Graco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 5th. DA Davidson reiterated a "neutral" rating and issued a $85.00 target price on shares of Graco in a research report on Monday, February 2nd. Royal Bank Of Canada lifted their target price on Graco from $97.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 28th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Graco in a research report on Tuesday, January 27th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Graco presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.50.
Get Our Latest Research Report on Graco
Graco Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG - Free Report).
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