Graco Inc. (NYSE:GGG) Holdings Cut by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in Graco Inc. (NYSE:GGG - Free Report) by 9.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 870,447 shares of the industrial products company's stock after selling 86,783 shares during the period. Hsbc Holdings PLC owned 0.52% of Graco worth $73,364,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Institute for Wealth Management LLC. lifted its stake in shares of Graco by 2.5% in the 4th quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company's stock worth $410,000 after acquiring an additional 119 shares during the period. Albert D Mason Inc. lifted its position in Graco by 0.4% in the fourth quarter. Albert D Mason Inc. now owns 27,923 shares of the industrial products company's stock worth $2,354,000 after purchasing an additional 121 shares during the period. Optas LLC lifted its position in Graco by 4.0% in the fourth quarter. Optas LLC now owns 3,360 shares of the industrial products company's stock worth $283,000 after purchasing an additional 128 shares during the period. Brooklyn Investment Group increased its position in shares of Graco by 39.1% during the 4th quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 136 shares during the period. Finally, Orion Portfolio Solutions LLC raised its stake in shares of Graco by 1.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company's stock worth $1,226,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company's stock.

Graco Trading Down 0.3 %

Shares of Graco stock traded down $0.23 on Wednesday, reaching $81.27. 143,595 shares of the company were exchanged, compared to its average volume of 816,308. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. The stock has a fifty day moving average price of $82.12 and a 200-day moving average price of $84.61.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $528.28 million for the quarter, compared to the consensus estimate of $526.98 million. Graco had a return on equity of 19.38% and a net margin of 23.00%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. On average, equities analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, April 14th. Graco's dividend payout ratio is currently 38.87%.

Analysts Set New Price Targets

Several research analysts recently weighed in on GGG shares. Royal Bank of Canada raised their target price on Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. DA Davidson set a $85.00 price objective on shares of Graco in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $93.00.

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.