Graco Inc. (NYSE:GGG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Graco Inc. (NYSE:GGG) have received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $96.50.

A number of equities research analysts have recently weighed in on GGG shares. Jefferies Financial Group lifted their price target on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Robert W. Baird set a $96.00 price objective on Graco in a report on Wednesday, January 28th. Weiss Ratings upgraded Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Royal Bank Of Canada raised their price target on 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 issued a $85.00 price target on shares of Graco in a research note on Monday, February 2nd.

Insider Activity

In other news, EVP Kathryn L. Schoenrock sold 2,223 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the completion of the transaction, the executive vice president owned 7,846 shares of the company’s stock, valued at approximately $690,918.76. The trade was a 22.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy R. White sold 1,469 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total value of $133,238.30. Following the completion of the sale, the insider directly owned 51,430 shares in the company, valued at $4,664,701. This trade represents a 2.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 19,394 shares of company stock valued at $1,739,326. 2.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Graco

A number of institutional investors and hedge funds have recently bought and sold shares of GGG. Mercer Global Advisors Inc. ADV boosted its stake in shares of Graco by 0.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock valued at $1,745,000 after purchasing an additional 109 shares in the last quarter. Stonebridge Capital Advisors LLC grew its holdings in Graco by 0.3% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after acquiring an additional 119 shares during the last quarter. Fifth Third Bancorp grew its holdings in Graco by 7.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 125 shares during the last quarter. ICW Investment Advisors LLC increased its position in Graco by 4.6% in the 3rd quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 126 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Graco by 7.8% during the third quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock valued at $159,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Price Performance

GGG stock opened at $92.97 on Friday. Graco has a fifty-two week low of $72.06 and a fifty-two week high of $95.69. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.92 and a beta of 1.08. The business’s fifty day moving average price is $87.31 and its two-hundred day moving average price is $84.76.

Graco (NYSE:GGG) last released its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. The business 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%. Graco’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. Research analysts expect that Graco will post 3.06 EPS for the current year.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, April 13th. Graco’s dividend payout ratio is 38.19%.

Graco announced that its board has initiated a stock buyback program on Friday, December 5th that permits the company to buyback 15,000,000 outstanding shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Graco Company Profile

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.