Swiss National Bank Has $45.85 Million Position in Graco Inc. (NYSE:GGG)

Swiss National Bank reduced its holdings in Graco Inc. (NYSE:GGG - Free Report) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 528,500 shares of the industrial products company's stock after selling 13,000 shares during the quarter. Swiss National Bank owned about 0.31% of Graco worth $45,853,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GGG. Tobam increased its stake in Graco by 2,330.8% in the 4th quarter. Tobam now owns 316 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 303 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Graco in the fourth quarter valued at $28,000. Fortitude Family Office LLC purchased a new position in shares of Graco in the fourth quarter valued at $29,000. Allspring Global Investments Holdings LLC raised its stake in shares of Graco by 3,063.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company's stock worth $44,000 after buying an additional 582 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Graco by 370.7% in the 3rd quarter. Larson Financial Group LLC now owns 626 shares of the industrial products company's stock worth $46,000 after buying an additional 493 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Price Performance

GGG traded up $0.66 during trading on Tuesday, hitting $83.51. The company's stock had a trading volume of 1,157,407 shares, compared to its average volume of 688,463. Graco Inc. has a twelve month low of $69.78 and a twelve month high of $94.77. The firm's 50 day moving average price is $89.98 and its 200-day moving average price is $85.46. The stock has a market cap of $14.12 billion, a PE ratio of 28.80, a PEG ratio of 2.68 and a beta of 0.84.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.09). Graco had a net margin of 23.15% and a return on equity of 23.01%. The business had revenue of $492.19 million during the quarter, compared to analyst estimates of $536.19 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business's revenue for the quarter was down 7.1% compared to the same quarter last year. Equities analysts anticipate that Graco Inc. will post 3.07 earnings per share for the current year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were issued a dividend of $0.255 per share. The ex-dividend date was Friday, April 12th. This represents a $1.02 annualized dividend and a dividend yield of 1.22%. Graco's payout ratio is currently 35.17%.

Insider Buying and Selling

In related news, VP Angela F. Wordell sold 3,588 shares of the company's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total transaction of $335,836.80. Following the completion of the transaction, the vice president now owns 12,725 shares of the company's stock, valued at $1,191,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Graco news, VP Angela F. Wordell sold 3,588 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total transaction of $335,836.80. Following the completion of the sale, the vice president now owns 12,725 shares of the company's stock, valued at $1,191,060. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony J. Gargano sold 1,395 shares of the company's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $88.00, for a total value of $122,760.00. Following the sale, the insider now owns 5,697 shares of the company's stock, valued at $501,336. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,378 shares of company stock valued at $4,376,528. Insiders own 2.63% of the company's stock.

Wall Street Analyst Weigh In

GGG has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on shares of Graco from $91.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 31st. Jefferies Financial Group lifted their price objective on Graco from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, January 11th. StockNews.com cut Graco from a "buy" rating to a "hold" rating in a report on Friday, April 26th. Robert W. Baird lowered their target price on Graco from $90.00 to $87.00 and set a "neutral" rating on the stock in a report on Friday, April 26th. Finally, William Blair reiterated a "market perform" rating on shares of Graco in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $88.25.

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.