Graco (NYSE:GGG) EVP Angela Wordell Sells 2,832 Shares

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

Graco Stock Performance

Shares of NYSE:GGG traded up $0.44 during mid-day trading on Monday, hitting $93.20. 377,586 shares of the company traded hands, compared to its average volume of 1,031,691. The firm’s 50 day simple moving average is $85.10 and its 200 day simple moving average is $84.07. The firm has a market cap of $15.45 billion, a P/E ratio of 30.16, a PEG ratio of 2.91 and a beta of 1.08. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $93.77.

Graco (NYSE:GGG) last issued its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. The business had revenue of $593.16 million during 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 business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Equities research analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco declared that its Board of Directors has initiated a share repurchase plan on Friday, December 5th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Graco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, January 19th were paid a dividend of $0.295 per share. This is a boost from Graco’s previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, January 16th. Graco’s dividend payout ratio (DPR) is 38.19%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GGG. DA Davidson reissued a “neutral” rating and set a $85.00 price objective on shares of Graco in a research note on Monday, February 2nd. Royal Bank Of Canada boosted their price target on shares of Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Weiss Ratings upgraded shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Robert W. Baird set a $96.00 price target on Graco in a report on Wednesday, January 28th. Finally, Jefferies Financial Group lifted their price objective on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Graco has an average rating of “Moderate Buy” and an average target price of $96.50.

Institutional Trading of Graco

Institutional investors have recently bought and sold shares of the company. Stonebridge Capital Advisors LLC boosted its holdings in Graco by 0.3% in the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after purchasing an additional 119 shares in the last quarter. Fifth Third Bancorp grew its position 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 purchasing an additional 125 shares during the last quarter. ICW Investment Advisors LLC increased its holdings in shares of Graco by 4.6% in the third quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 126 shares during the period. Jones Financial Companies Lllp raised its position in Graco by 7.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock worth $159,000 after buying an additional 135 shares during the last quarter. Finally, Viawealth LLC raised its holdings in Graco by 0.3% during the third quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock worth $4,519,000 after purchasing an additional 137 shares in the last quarter. 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.