Graco Inc. (NYSE:GGG) Stock Holdings Cut by Tran Capital Management L.P.

Tran Capital Management L.P. lessened its position in Graco Inc. (NYSE:GGG) by 7.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,794 shares of the industrial products company’s stock after selling 2,111 shares during the period. Tran Capital Management L.P.’s holdings in Graco were worth $2,343,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Albert D Mason Inc. raised its position in Graco by 0.4% in the fourth quarter. Albert D Mason Inc. now owns 27,923 shares of the industrial products company’s stock worth $2,354,000 after acquiring an additional 121 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Graco by 3.1% in the 3rd quarter. Ballentine Partners LLC now owns 4,222 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 128 shares in the last quarter. Brooklyn Investment Group lifted its stake in Graco by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 136 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in Graco by 0.9% during the third quarter. Leavell Investment Management Inc. now owns 16,602 shares of the industrial products company’s stock worth $1,453,000 after buying an additional 143 shares in the last quarter. Finally, Equitable Trust Co. grew its position in Graco by 2.3% in the third quarter. Equitable Trust Co. now owns 6,664 shares of the industrial products company’s stock worth $583,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Down 0.5 %

Shares of NYSE:GGG opened at $85.62 on Friday. The company’s fifty day moving average is $86.55 and its two-hundred day moving average is $84.57. The company has a market cap of $14.46 billion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 2.81 and a beta of 0.84. Graco Inc. has a 12-month low of $77.49 and a 12-month high of $94.77.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). Graco had a return on equity of 21.24% and a net margin of 22.87%. The business had revenue of $519.21 million during the quarter, compared to analysts’ expectations of $538.19 million. During the same period in the prior year, the company posted $0.76 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. Equities research analysts anticipate that Graco Inc. will post 2.89 earnings per share for the current year.

Graco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Monday, January 20th will be issued a dividend of $0.275 per share. This is a boost from Graco’s previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, January 17th. Graco’s dividend payout ratio (DPR) is currently 38.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GGG. BNP Paribas upgraded Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Thursday, December 19th. Royal Bank of Canada boosted their target price on Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Robert W. Baird decreased their price target on Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.50.

Insider Activity at Graco

In other news, insider Caroline M. Chambers sold 8,280 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $90.57, for a total transaction of $749,919.60. Following the completion of the sale, the insider now directly owns 57,612 shares of the company’s stock, valued at $5,217,918.84. This trade represents a 12.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $90.30, for a total value of $137,888.10. Following the completion of the sale, the executive vice president now directly owns 6,374 shares of the company’s stock, valued at approximately $575,572.20. The trade was a 19.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,098 shares of company stock valued at $2,776,150. Corporate insiders own 2.63% of the company’s stock.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.