Graco Inc. (NYSE:GGG – Get Rating) – Analysts at DA Davidson issued their Q3 2022 earnings estimates for Graco in a note issued to investors on Monday, August 1st. DA Davidson analyst M. Summerville forecasts that the industrial products company will earn $0.65 per share for the quarter. DA Davidson has a “Neutral” rating on the stock. The consensus estimate for Graco’s current full-year earnings is $2.62 per share. DA Davidson also issued estimates for Graco’s FY2022 earnings at $2.57 EPS and FY2023 earnings at $2.75 EPS.
A number of other research firms have also weighed in on GGG. StockNews.com lowered shares of Graco from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Morgan Stanley reduced their target price on shares of Graco from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, June 9th. Finally, Robert W. Baird downgraded shares of Graco from an “outperform” rating to a “neutral” rating and set a $61.00 target price for the company. in a report on Thursday, July 14th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Graco presently has an average rating of “Hold” and an average price target of $71.33.
Graco Stock Down 0.8 %
Graco (NYSE:GGG – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Graco had a net margin of 21.38% and a return on equity of 25.73%. The company had revenue of $548.55 million during the quarter, compared to analyst estimates of $533.49 million. During the same period in the prior year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year.
Graco Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 3rd. Shareholders of record on Monday, July 18th will be issued a $0.21 dividend. The ex-dividend date is Friday, July 15th. This represents a $0.84 dividend on an annualized basis and a yield of 1.26%. Graco’s dividend payout ratio is presently 33.07%.
Insiders Place Their Bets
In other news, Director Eric Etchart sold 6,000 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $58.64, for a total transaction of $351,840.00. Following the transaction, the director now owns 31,403 shares in the company, valued at $1,841,471.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Eric Etchart sold 6,000 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $58.64, for a total transaction of $351,840.00. Following the transaction, the director now owns 31,403 shares in the company, valued at $1,841,471.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director J Kevin Gilligan sold 13,938 shares of the company’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $63.50, for a total transaction of $885,063.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,938 shares of company stock worth $1,640,103. 3.52% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Graco
Large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its position in Graco by 400.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 355 shares of the industrial products company’s stock valued at $27,000 after buying an additional 284 shares during the last quarter. Duncker Streett & Co. Inc. lifted its position in shares of Graco by 51.7% during the 4th quarter. Duncker Streett & Co. Inc. now owns 408 shares of the industrial products company’s stock valued at $33,000 after buying an additional 139 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Graco during the 1st quarter valued at approximately $29,000. Allworth Financial LP lifted its position in shares of Graco by 804.3% during the 1st quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock valued at $30,000 after buying an additional 378 shares in the last quarter. Finally, Artemis Wealth Advisors LLC acquired a new position in Graco in the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.
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 company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.
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