Graco Inc. (NYSE:GGG) – KeyCorp upped their Q3 2020 earnings estimates for Graco in a note issued to investors on Tuesday, October 13th. KeyCorp analyst J. Hammond now forecasts that the industrial products company will earn $0.43 per share for the quarter, up from their prior estimate of $0.41. KeyCorp also issued estimates for Graco’s FY2020 earnings at $1.60 EPS and FY2021 earnings at $1.85 EPS.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.11. The business had revenue of $366.89 million for the quarter, compared to the consensus estimate of $326.13 million. Graco had a return on equity of 28.29% and a net margin of 17.42%.
A number of other research firms have also recently issued reports on GGG. Jefferies Financial Group increased their target price on Graco from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, July 27th. Royal Bank of Canada upgraded Graco from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $53.00 to $59.00 in a report on Tuesday, August 11th. Berenberg Bank began coverage on Graco in a report on Friday. They set a “hold” rating and a $62.00 target price for the company. ValuEngine cut Graco from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Finally, Robert W. Baird increased their target price on Graco from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Graco has an average rating of “Hold” and a consensus target price of $56.83.
Shares of Graco stock opened at $65.57 on Friday. The company has a market capitalization of $10.93 billion, a PE ratio of 41.76, a PEG ratio of 5.17 and a beta of 0.58. Graco has a 12 month low of $38.43 and a 12 month high of $66.14. The company has a current ratio of 3.35, a quick ratio of 2.41 and a debt-to-equity ratio of 0.39. The stock’s fifty day simple moving average is $60.80 and its 200 day simple moving average is $52.26.
Large investors have recently modified their holdings of the stock. Smithfield Trust Co. acquired a new stake in Graco in the 2nd quarter valued at about $30,000. Blue Square Asset Management LLC acquired a new stake in Graco in the 2nd quarter valued at about $56,000. Cerebellum GP LLC acquired a new stake in Graco in the 2nd quarter valued at about $70,000. Huntington National Bank lifted its stake in Graco by 51.9% in the 2nd quarter. Huntington National Bank now owns 1,961 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 670 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in Graco by 40.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,100 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.
In other news, CEO Patrick J. Mchale sold 184,575 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $54.21, for a total value of $10,005,810.75. Following the completion of the transaction, the chief executive officer now owns 382,164 shares in the company, valued at approximately $20,717,110.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Etchart sold 1,150 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $59.03, for a total value of $67,884.50. Following the completion of the transaction, the director now owns 28,931 shares of the company’s stock, valued at approximately $1,707,796.93. The disclosure for this sale can be found here. Insiders sold a total of 513,661 shares of company stock valued at $28,795,974 in the last 90 days. 4.12% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Monday, October 19th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, October 16th. Graco’s payout ratio is 36.84%.
Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.
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