J Kevin Gilligan Sells 12,870 Shares of Graco (NYSE:GGG) Stock

Graco Inc. (NYSE:GGG) Director J Kevin Gilligan sold 12,870 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total value of $1,146,330.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Graco Trading Up 0.9%

GGG opened at $92.38 on Friday. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.84. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 2.88 and a beta of 1.08. The company’s fifty day moving average price is $84.89 and its two-hundred day moving average price is $84.07.

Graco (NYSE:GGG) last posted its earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $593.16 million for the quarter, compared to analyst estimates of $591.99 million. Graco had a return on equity of 19.49% and a net margin of 23.33%.The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. As a group, equities analysts forecast that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco declared that its board has approved a stock repurchase plan on Friday, December 5th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Graco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Monday, January 19th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Graco’s previous quarterly dividend of $0.28. Graco’s payout ratio is currently 38.19%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Robert W. Baird set a $96.00 price target on shares of Graco in a research report on Wednesday, January 28th. DA Davidson restated a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday. KeyCorp reiterated a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Graco in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.50.

Hedge Funds Weigh In On Graco

Institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC purchased a new position in shares of Graco in the 3rd quarter worth about $29,000. NewSquare Capital LLC boosted its stake in Graco by 320.7% in the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after buying an additional 263 shares in the last quarter. CX Institutional boosted its stake in Graco by 316.7% in the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after buying an additional 361 shares in the last quarter. Assetmark Inc. grew its position in Graco by 42.6% during the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 139 shares during the last quarter. Finally, Field & Main Bank purchased a new position in shares of Graco during the fourth quarter worth approximately $41,000. Institutional investors own 93.88% of the company’s stock.

About Graco

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.