Swiss National Bank lifted its stake in shares of Graco Inc. (NYSE:GGG – Get Rating) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 408,400 shares of the industrial products company’s stock after purchasing an additional 7,000 shares during the period. Swiss National Bank owned 0.24% of Graco worth $27,469,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Asset Dedication LLC increased its holdings in shares of Graco by 2,034.8% during the 4th quarter. Asset Dedication LLC now owns 491 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 468 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Graco during the 2nd quarter worth $35,000. Fifth Third Bancorp grew its holdings in shares of Graco by 76.8% during the 3rd quarter. Fifth Third Bancorp now owns 631 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 274 shares in the last quarter. Affiance Financial LLC bought a new stake in shares of Graco during the 4th quarter worth $55,000. Finally, FourThought Financial LLC lifted its position in shares of Graco by 19.5% during the 3rd quarter. FourThought Financial LLC now owns 1,011 shares of the industrial products company’s stock worth $61,000 after buying an additional 165 shares during the last quarter. 85.85% of the stock is owned by institutional investors and hedge funds.
Graco Stock Down 0.9 %
Shares of NYSE:GGG opened at $77.45 on Friday. The stock has a market cap of $13.04 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 2.63 and a beta of 0.80. The company has a quick ratio of 2.07, a current ratio of 3.38 and a debt-to-equity ratio of 0.04. Graco Inc. has a 12-month low of $56.48 and a 12-month high of $80.90. The business’s 50 day moving average is $71.78 and its 200 day moving average is $69.86.
Graco Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 3rd. Stockholders of record on Monday, April 17th were given a dividend of $0.235 per share. The ex-dividend date was Friday, April 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.21%. Graco’s dividend payout ratio is presently 33.10%.
Insider Activity
In related news, Director J Kevin Gilligan sold 16,320 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $79.88, for a total transaction of $1,303,641.60. Following the sale, the director now owns 17,462 shares of the company’s stock, valued at approximately $1,394,864.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Graco news, Director J Kevin Gilligan sold 16,320 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $79.88, for a total value of $1,303,641.60. Following the transaction, the director now directly owns 17,462 shares in the company, valued at approximately $1,394,864.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey P. Johnson sold 4,830 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $78.54, for a total value of $379,348.20. Following the transaction, the insider now owns 30,835 shares in the company, valued at $2,421,780.90. The disclosure for this sale can be found here. Insiders have sold 42,943 shares of company stock valued at $3,433,404 in the last 90 days. Insiders own 2.98% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have commented on GGG shares. StockNews.com downgraded Graco from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th. Royal Bank of Canada raised their target price on Graco from $82.00 to $89.00 in a research note on Friday, April 28th. Seaport Res Ptn raised Graco from a “neutral” rating to a “buy” rating in a research note on Thursday, February 2nd. DA Davidson raised their target price on Graco from $70.00 to $75.00 in a research note on Thursday, April 27th. Finally, Robert W. Baird raised their target price on Graco from $75.00 to $83.00 in a research note on Friday, April 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Graco presently has a consensus rating of “Hold” and a consensus price target of $79.25.
Graco 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.
Read More
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