Graco Inc. (NYSE:GGG - Get Free Report) Director Andrea Helen Simon purchased 1,240 shares of the firm's stock in a transaction on Monday, April 27th. The shares were purchased at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the purchase, the director directly owned 1,240 shares in the company, valued at $99,857.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Graco Price Performance
Graco stock opened at $80.53 on Tuesday. Graco Inc. has a 12-month low of $78.87 and a 12-month high of $95.69. The stock has a market capitalization of $13.37 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.59 and a beta of 1.09. The firm's 50-day moving average is $87.64 and its two-hundred day moving average is $85.47.
Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. During the same period in the prior year, the business earned $0.70 earnings per share. Graco's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts forecast that Graco Inc. will post 3.15 EPS for the current year.
Graco Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, April 13th. Graco's dividend payout ratio (DPR) is currently 38.44%.
Analysts Set New Price Targets
Several research firms have issued reports on GGG. DA Davidson reaffirmed a "neutral" rating and set a $85.00 price target on shares of Graco in a research note on Monday. Jefferies Financial Group raised their price target on shares of Graco from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $95.00 price target on shares of Graco in a research note on Friday. Weiss Ratings raised shares of Graco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 5th. Finally, Robert W. Baird decreased their target price on shares of Graco from $96.00 to $92.00 and set a "neutral" rating on the stock in a research report on Friday. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $94.25.
Read Our Latest Report on GGG
Institutional Trading of Graco
A number of institutional investors and hedge funds have recently made changes to their positions in GGG. Norges Bank acquired a new stake in shares of Graco during the 4th quarter worth $161,949,000. Bank of Montreal Can increased its holdings in shares of Graco by 1,636.9% during the 4th quarter. Bank of Montreal Can now owns 1,011,196 shares of the industrial products company's stock worth $82,888,000 after buying an additional 952,977 shares during the last quarter. Caisse de depot et placement du Quebec increased its holdings in shares of Graco by 236.4% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company's stock worth $108,711,000 after buying an additional 899,174 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Graco by 20,706.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company's stock worth $45,605,000 after buying an additional 553,688 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Graco by 116.8% during the 2nd quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company's stock worth $63,201,000 after buying an additional 396,125 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.
Graco Company Profile
(
Get Free Report)
Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco's solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.
The company's product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.
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