Graco (NYSE:GGG) Receives Neutral Rating from DA Davidson

DA Davidson reiterated their neutral rating on shares of Graco (NYSE:GGG) in a report published on Monday morning,Benzinga reports. The brokerage currently has a $85.00 target price on the industrial products company’s stock.

Other equities analysts have also recently issued reports about the company. Robert W. Baird decreased their target price on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Graco in a report on Friday. Weiss Ratings raised Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Jefferies Financial Group raised their target price on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Graco has a consensus rating of “Moderate Buy” and a consensus price target of $94.25.

Graco Stock Performance

Shares of Graco stock opened at $80.53 on Monday. Graco has a one year low of $78.87 and a one year high of $95.69. The stock’s fifty day moving average is $87.64 and its 200 day moving average is $85.47. The stock has a market cap of $13.37 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.59 and a beta of 1.09.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The company had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. During the same period in the prior year, the business posted $0.70 earnings per share. Graco’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts predict that Graco will post 3.15 EPS for the current year.

Graco Announces Dividend

The company 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. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, April 13th. Graco’s payout ratio is 38.44%.

Insider Transactions at Graco

In other news, Director Andrea Helen Simon bought 1,240 shares of Graco stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of $80.53 per share, with a total value of $99,857.20. Following the completion of the acquisition, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Angela F. Wordell sold 2,832 shares of Graco stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $93.22, for a total value of $263,999.04. Following the completion of the sale, the executive vice president directly owned 13,360 shares in the company, valued at $1,245,419.20. This trade represents a 17.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 19,394 shares of company stock valued at $1,739,326. 2.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GGG. Norges Bank purchased a new position in Graco in the fourth quarter worth about $161,949,000. Bank of Montreal Can grew its position in Graco by 1,636.9% in the fourth quarter. Bank of Montreal Can now owns 1,011,196 shares of the industrial products company’s stock worth $82,888,000 after acquiring an additional 952,977 shares in the last quarter. Caisse de depot et placement du Quebec grew its position in Graco by 236.4% in the third quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company’s stock worth $108,711,000 after acquiring an additional 899,174 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Graco by 20,706.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock worth $45,605,000 after acquiring an additional 553,688 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Graco by 116.8% in the second quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company’s stock worth $63,201,000 after acquiring an additional 396,125 shares in the last quarter. Hedge funds and other 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.