Graco Inc. (NYSE:GGG) Director Lee R. Mitau sold 8,600 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $131.18, for a total value of $1,128,148.00. Following the completion of the transaction, the director now directly owns 67,404 shares of the company’s stock, valued at approximately $8,842,056.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.09. The company had revenue of $379.81 million for the quarter, compared to analyst estimates of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 earnings per share.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, October 13th. Graco’s payout ratio is 75.79%.

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A number of hedge funds and other institutional investors have recently made changes to their positions in GGG. Advisors Asset Management Inc. raised its position in Graco by 106.1% in the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 578 shares during the period. Acrospire Investment Management LLC raised its position in Graco by 200.0% in the second quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 800 shares during the period. Fiduciary Trust Co. purchased a new stake in shares of Graco during the second quarter worth $180,000. Mosaic Family Wealth LLC increased its position in shares of Graco by 5.1% during the second quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 91 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of Graco during the first quarter worth $206,000. 87.18% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on the company. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research note on Monday, July 31st. BidaskClub upgraded Graco from a “hold” rating to a “buy” rating in a report on Friday, August 18th. FBR & Co set a $140.00 price target on Graco and gave the stock a “hold” rating in a report on Thursday, October 26th. KeyCorp reiterated a “hold” rating on shares of Graco in a report on Friday, October 20th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $129.00 price target on shares of Graco in a report on Wednesday, October 4th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $116.75.

About Graco

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

Insider Buying and Selling by Quarter for Graco (NYSE:GGG)

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