Graco (NYSE:GGG) Insider Sells $133,238.30 in Stock

Graco Inc. (NYSE:GGG) insider Timothy White sold 1,469 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $90.70, for a total transaction of $133,238.30. Following the completion of the sale, the insider owned 51,430 shares of the company’s stock, valued at $4,664,701. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Graco Trading Up 0.5%

Shares of GGG opened at $92.90 on Monday. The stock’s 50 day moving average is $85.10 and its two-hundred day moving average is $84.07. The firm has a market capitalization of $15.40 billion, a PE ratio of 30.07, a P/E/G ratio of 2.91 and a beta of 1.08. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $93.77.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The firm had revenue of $593.16 million for the quarter, compared to analyst estimates of $591.99 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. Graco’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, January 19th were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, January 16th. This is an increase from Graco’s previous quarterly dividend of $0.28. Graco’s dividend payout ratio (DPR) is 38.19%.

Graco declared that its board has authorized a stock repurchase plan on Friday, December 5th that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Graco

Several institutional investors have recently made changes to their positions in GGG. Root Financial Partners LLC bought a new position in Graco during the 3rd quarter worth $29,000. NewSquare Capital LLC raised its holdings in Graco by 320.7% during the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 263 shares in the last quarter. CX Institutional lifted its holdings in shares of Graco by 316.7% in the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after buying an additional 361 shares during the period. Assetmark Inc. lifted its holdings in Graco by 42.6% in the 3rd 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 acquired a new stake in Graco during the fourth quarter valued at approximately $41,000. 93.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on GGG. Royal Bank Of Canada increased their target price on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. DA Davidson reiterated a “neutral” rating and issued a $85.00 target price on shares of Graco in a report on Monday, February 2nd. Jefferies Financial Group boosted their price objective 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. Weiss Ratings raised Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Finally, KeyCorp restated a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Graco currently has a consensus rating of “Moderate Buy” and an average target price of $96.50.

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.