Jane Street Group LLC Sells 12,862 Shares of Graco Inc. (NYSE:GGG)

Jane Street Group LLC lessened its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,325 shares of the industrial products company's stock after selling 12,862 shares during the period. Jane Street Group LLC's holdings in Graco were worth $4,410,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Graco in the 4th quarter valued at $177,434,000. Massachusetts Financial Services Co. MA boosted its holdings in Graco by 26,738.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,841,916 shares of the industrial products company's stock valued at $155,255,000 after acquiring an additional 1,835,053 shares during the last quarter. Northern Trust Corp increased its position in Graco by 36.7% in the fourth quarter. Northern Trust Corp now owns 1,929,952 shares of the industrial products company's stock worth $162,676,000 after purchasing an additional 518,462 shares during the period. Canoe Financial LP raised its holdings in Graco by 359.2% during the 4th quarter. Canoe Financial LP now owns 640,474 shares of the industrial products company's stock worth $53,986,000 after purchasing an additional 501,003 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Graco by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,497,164 shares of the industrial products company's stock worth $126,196,000 after purchasing an additional 486,277 shares during the last quarter. Institutional investors own 93.88% of the company's stock.

Graco Stock Performance

Shares of Graco stock traded down $0.65 on Tuesday, hitting $85.79. The stock had a trading volume of 1,309,988 shares, compared to its average volume of 819,446. The firm has a market capitalization of $14.34 billion, a P/E ratio of 30.42, a PEG ratio of 2.85 and a beta of 1.09. The stock has a 50 day moving average of $81.58 and a 200 day moving average of $84.50. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The firm had revenue of $528.28 million during 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 was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS. Equities analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th were paid a $0.275 dividend. The ex-dividend date of this dividend was Monday, April 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.28%. Graco's payout ratio is 38.87%.

Analysts Set New Price Targets

Separately, DA Davidson set a $85.00 price target 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's stock. Based on data from MarketBeat.com, Graco has an average rating of "Hold" 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.