Graco (NYSE:GGG) Director Andrea Helen Simon Purchases 1,240 Shares

Graco Inc. (NYSE:GGG) Director Andrea Helen Simon purchased 1,240 shares of the stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $80.53 per share, with a total value of $99,857.20. Following the acquisition, the director directly owned 1,240 shares in the company, valued at $99,857.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Graco Stock Down 1.3%

NYSE GGG opened at $80.53 on Tuesday. Graco Inc. has a 52 week low of $78.87 and a 52 week high of $95.69. The stock has a market capitalization of $13.37 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 2.59 and a beta of 1.09. The firm has a 50 day moving average of $87.64 and a two-hundred day moving average of $85.47.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 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 quarter last year, the firm earned $0.70 EPS. The company’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Graco Inc. will post 3.15 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be issued a $0.295 dividend. The ex-dividend date is Monday, April 13th. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. Graco’s dividend payout ratio is presently 38.44%.

Analysts Set New Price Targets

GGG has been the subject of several research reports. Weiss Ratings upgraded shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Jefferies Financial Group upped their price objective on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Robert W. Baird cut their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday. KeyCorp reiterated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Graco in a report on Friday. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Graco presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.25.

Institutional Trading of Graco

Large investors have recently modified their holdings of the business. Nordea Investment Management AB grew its position in shares of Graco by 432.6% in the third quarter. Nordea Investment Management AB now owns 85,654 shares of the industrial products company’s stock valued at $7,263,000 after purchasing an additional 69,573 shares during the last quarter. AE Wealth Management LLC grew its position in shares of Graco by 32.7% in the fourth quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock valued at $32,652,000 after purchasing an additional 98,141 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Graco by 154.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 64,341 shares of the industrial products company’s stock valued at $5,466,000 after purchasing an additional 39,031 shares during the last quarter. Raiffeisen Bank International AG grew its position in shares of Graco by 191.8% in the third quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company’s stock valued at $744,000 after purchasing an additional 5,790 shares during the last quarter. Finally, Swiss Life Asset Management Ltd grew its position in shares of Graco by 40.5% in the third quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock valued at $3,869,000 after purchasing an additional 13,130 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

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.