Geode Capital Management LLC lifted its holdings in Graco Inc. (NYSE:GGG) by 232.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,482,009 shares of the industrial products company’s stock after acquiring an additional 1,036,365 shares during the period. Geode Capital Management LLC owned approximately 0.88% of Graco worth $67,016,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of GGG. Raymond James Financial Services Advisors Inc. raised its position in shares of Graco by 6.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 7,211 shares of the industrial products company’s stock worth $892,000 after acquiring an additional 413 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Graco in the 3rd quarter worth about $778,000. Principal Financial Group Inc. raised its position in shares of Graco by 0.5% in the 3rd quarter. Principal Financial Group Inc. now owns 241,492 shares of the industrial products company’s stock worth $29,870,000 after acquiring an additional 1,241 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Graco in the 3rd quarter worth about $234,000. Finally, New York State Common Retirement Fund raised its position in shares of Graco by 1.7% in the 3rd quarter. New York State Common Retirement Fund now owns 122,700 shares of the industrial products company’s stock worth $15,177,000 after acquiring an additional 2,000 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Graco Inc. (NYSE:GGG) opened at $46.33 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.67. The company has a market capitalization of $7,885.85, a PE ratio of 30.35, a PEG ratio of 2.49 and a beta of 1.17. Graco Inc. has a 12 month low of $30.59 and a 12 month high of $49.69.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Monday, April 16th will be paid a $0.1325 dividend. The ex-dividend date of this dividend is Friday, April 13th. This represents a $0.53 annualized dividend and a dividend yield of 1.14%. Graco’s dividend payout ratio is presently 36.47%.
Several research firms have recently weighed in on GGG. Zacks Investment Research lowered Graco from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. ValuEngine lowered Graco from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Deutsche Bank raised Graco from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, January 23rd. Royal Bank of Canada reissued a “hold” rating and issued a $49.00 price objective on shares of Graco in a research report on Thursday, January 4th. Finally, SunTrust Banks reissued a “hold” rating and issued a $45.00 price objective on shares of Graco in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Graco has a consensus rating of “Hold” and an average target price of $47.33.
In other news, VP Caroline M. Chambers sold 9,939 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.03, for a total value of $417,736.17. Following the completion of the sale, the vice president now directly owns 30,615 shares in the company, valued at approximately $1,286,748.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Karen Park Gallivan sold 27,000 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $46.67, for a total value of $1,260,090.00. Following the completion of the sale, the vice president now owns 72,305 shares of the company’s stock, valued at $3,374,474.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,564 shares of company stock valued at $4,225,595. 5.70% of the stock is currently owned by company insiders.
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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.
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