Graco Inc. $GGG Shares Sold by Whittier Trust Co.

Whittier Trust Co. cut its stake in shares of Graco Inc. (NYSE:GGG) by 89.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,759 shares of the industrial products company’s stock after selling 174,575 shares during the period. Whittier Trust Co.’s holdings in Graco were worth $1,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Graco in the 4th quarter worth $161,949,000. Bank of Montreal Can increased its stake in Graco by 1,636.9% during 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 during the last quarter. Caisse de depot et placement du Quebec increased its stake in Graco by 236.4% during 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 during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Graco by 20,706.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock worth $45,605,000 after purchasing an additional 553,688 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Graco by 116.8% in the 2nd quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company’s stock worth $63,201,000 after purchasing an additional 396,125 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Stock Down 0.6%

NYSE GGG opened at $75.19 on Wednesday. The stock has a market cap of $12.48 billion, a PE ratio of 24.49, a P/E/G ratio of 2.44 and a beta of 0.93. Graco Inc. has a fifty-two week low of $73.15 and a fifty-two week high of $95.69. The business has a 50 day moving average price of $76.05 and a two-hundred day moving average price of $83.42.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The firm had revenue of $540.14 million for the quarter, compared to analysts’ expectations of $561.35 million. During the same quarter in the prior year, the business earned $0.70 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that Graco Inc. will post 3.1 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 annualized dividend and a yield of 1.6%. Graco’s payout ratio is 38.44%.

Insider Buying and Selling

In other news, Director Andrea Helen Simon acquired 1,240 shares of the business’s stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the acquisition, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GGG shares. Robert W. Baird decreased their target price on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. DA Davidson restated a “neutral” rating and issued a $85.00 price target on shares of Graco in a report on Monday, April 27th. Weiss Ratings cut shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research report on Friday, April 24th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $94.25.

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.