Raymond James Financial Inc. Boosts Stake in Graco Inc. $GGG

Key Points

• Raymond James Financial Inc. increased its stake in Graco Inc. by 7.4%, owning approximately 0.24% of the company valued at $33.58 million.
• Graco recently declared a quarterly dividend of $0.275 per share, with a current yield of 1.3% and a payout ratio of 39.01%.
• Analysts have set a consensus price target of $94.50 for Graco, with an average rating of "Moderate Buy" among research analysts.

Raymond James Financial Inc. raised its holdings in Graco Inc. (NYSE:GGG - Free Report) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 402,075 shares of the industrial products company's stock after buying an additional 27,735 shares during the period. Raymond James Financial Inc. owned approximately 0.24% of Graco worth $33,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GGG. Wood Tarver Financial Group LLC purchased a new position in Graco in the 4th quarter valued at approximately $46,000. Golden State Wealth Management LLC boosted its position in Graco by 128.9% in the 1st quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock valued at $58,000 after buying an additional 388 shares during the period. National Pension Service boosted its position in Graco by 74.8% in the 1st quarter. National Pension Service now owns 699 shares of the industrial products company's stock valued at $58,000 after buying an additional 299 shares during the period. USA Financial Formulas boosted its position in Graco by 43.6% in the 1st quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock valued at $88,000 after buying an additional 321 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Graco in the 1st quarter valued at approximately $96,000. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Trading Up 3.1%

Shares of GGG opened at $87.3110 on Friday. The firm's fifty day simple moving average is $85.72 and its 200-day simple moving average is $84.18. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.95 and a beta of 1.04.

Graco (NYSE:GGG - Get Free Report) last announced 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). Graco had a return on equity of 19.05% and a net margin of 22.26%.The company had revenue of $571.81 million for the quarter, compared to analyst estimates of $590.57 million. During the same quarter in the prior year, the business earned $0.77 earnings per share. Graco's revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, July 21st. Graco's dividend payout ratio (DPR) is currently 39.01%.

Analysts Set New Price Targets

Several brokerages have commented on GGG. Robert W. Baird raised their price target on shares of Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Wolfe Research began coverage on shares of Graco in a report on Wednesday, June 18th. They issued an "outperform" rating on the stock. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Graco currently has an average rating of "Moderate Buy" and a consensus price target of $94.50.

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.

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