Insider Selling: Graco (NYSE:GGG) EVP Sells $263,999.04 in Stock

Graco Inc. (NYSE:GGG) EVP Angela Wordell sold 2,832 shares of Graco stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $93.22, for a total transaction of $263,999.04. Following the sale, the executive vice president owned 13,360 shares in the company, valued at $1,245,419.20. This represents a 17.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Graco Trading Up 0.3%

GGG opened at $94.48 on Thursday. The company has a fifty day simple moving average of $85.77 and a 200 day simple moving average of $84.26. The firm has a market cap of $15.66 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 2.96 and a beta of 1.08. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $95.39.

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

Graco announced that its Board of Directors has authorized a share repurchase plan on Friday, December 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Graco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, January 19th were issued a $0.295 dividend. This is an increase from Graco’s previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, January 16th. Graco’s dividend payout ratio (DPR) is currently 38.19%.

Analyst Upgrades and Downgrades

GGG has been the subject of several research analyst reports. Weiss Ratings upgraded Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Robert W. Baird set a $96.00 price objective on shares of Graco in a research note on Wednesday, January 28th. Jefferies Financial Group raised their price objective on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Royal Bank Of Canada boosted their target price on shares of Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.50.

Institutional Investors Weigh In On Graco

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Graco in the 2nd quarter worth about $170,661,000. Caisse de depot et placement du Quebec boosted its stake in 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 valued at $108,711,000 after purchasing an additional 899,174 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Graco by 20,706.4% in 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 purchasing an additional 553,688 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Graco by 116.8% in the second quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company’s stock valued at $63,201,000 after purchasing an additional 396,125 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of Graco by 877.5% in the third quarter. Schroder Investment Management Group now owns 334,947 shares of the industrial products company’s stock valued at $28,300,000 after purchasing an additional 300,682 shares during the period. 93.88% of the stock is currently owned by institutional investors.

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.