Shares of Graco Inc. (NYSE:GGG – Get Rating) have earned an average rating of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $79.25.
A number of research analysts recently commented on GGG shares. Robert W. Baird boosted their price objective on shares of Graco from $75.00 to $83.00 in a research report on Friday, April 28th. StockNews.com cut shares of Graco from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Royal Bank of Canada boosted their price target on Graco from $82.00 to $89.00 in a research note on Friday, April 28th. DA Davidson boosted their price objective on Graco from $70.00 to $75.00 in a report on Thursday, April 27th. Finally, Seaport Res Ptn raised Graco from a “neutral” rating to a “buy” rating in a research note on Thursday, February 2nd.
Graco Stock Performance
NYSE:GGG opened at $78.29 on Friday. The company has a quick ratio of 1.82, a current ratio of 3.38 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $70.93 and a two-hundred day simple moving average of $69.32. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 2.76 and a beta of 0.80. Graco has a 52 week low of $56.48 and a 52 week high of $80.90.
Graco Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 3rd. Shareholders of record on Monday, April 17th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, April 14th. Graco’s dividend payout ratio (DPR) is presently 33.10%.
Insider Transactions at Graco
In other Graco news, CFO David M. Lowe sold 31,128 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $70.17, for a total transaction of $2,184,251.76. Following the sale, the chief financial officer now owns 601,770 shares in the company, valued at approximately $42,226,200.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO David M. Lowe sold 31,128 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $70.17, for a total value of $2,184,251.76. Following the completion of the sale, the chief financial officer now directly owns 601,770 shares of the company’s stock, valued at approximately $42,226,200.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sant R. William Van sold 20,820 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $71.14, for a total transaction of $1,481,134.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,061 shares of company stock worth $6,719,442. Company insiders own 2.98% of the company’s stock.
Institutional Trading of Graco
Several institutional investors and hedge funds have recently added to or reduced their stakes in GGG. Commerce Bank increased its stake in shares of Graco by 1.3% in the 1st quarter. Commerce Bank now owns 55,667 shares of the industrial products company’s stock valued at $4,064,000 after acquiring an additional 697 shares in the last quarter. Ellevest Inc. lifted its holdings in shares of Graco by 37.6% in the 1st quarter. Ellevest Inc. now owns 4,642 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 1,269 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Graco by 0.7% in the 1st quarter. Treasurer of the State of North Carolina now owns 73,379 shares of the industrial products company’s stock worth $5,357,000 after purchasing an additional 520 shares during the period. Barclays PLC lifted its holdings in Graco by 117.3% in the 1st quarter. Barclays PLC now owns 156,142 shares of the industrial products company’s stock worth $11,402,000 after buying an additional 84,294 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Graco by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 749,498 shares of the industrial products company’s stock worth $54,721,000 after acquiring an additional 60,160 shares in the last quarter. 85.85% of the stock is owned by institutional investors.
Graco Company Profile
Graco, Inc is a manufacturing company, which engages in the design, manufacture, and sale of systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials. It operates through the following segments: Industrial, Process, and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives, and other fluids.
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