Massachusetts Financial Services Co. MA Sells 24,054 Shares of Graco Inc. (NYSE:GGG)

Massachusetts Financial Services Co. MA reduced its stake in Graco Inc. (NYSE:GGGFree Report) by 27.5% during the third quarter, HoldingsChannel reports. The firm owned 63,371 shares of the industrial products company’s stock after selling 24,054 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Graco were worth $4,618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its stake in Graco by 64.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 369 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. Your Advocates Ltd. LLP grew its position in Graco by 88.9% during the second quarter. Your Advocates Ltd. LLP now owns 425 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Money Concepts Capital Corp grew its position in Graco by 569.7% during the fourth quarter. Money Concepts Capital Corp now owns 509 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 433 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Graco during the second quarter valued at approximately $35,000. Finally, Allspring Global Investments Holdings LLC grew its position in Graco by 3,063.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 582 shares during the last quarter. 84.94% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Performance

Shares of Graco stock opened at $88.16 on Monday. Graco Inc. has a 52-week low of $66.17 and a 52-week high of $88.31. The stock has a market capitalization of $14.88 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 2.81 and a beta of 0.81. The company’s 50 day moving average price is $84.94 and its 200-day moving average price is $79.37.

Graco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Monday, January 22nd were issued a $0.255 dividend. This is a boost from Graco’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, January 19th. This represents a $1.02 annualized dividend and a dividend yield of 1.16%. Graco’s dividend payout ratio (DPR) is currently 34.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GGG. Royal Bank of Canada increased their price target on shares of Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com upgraded shares of Graco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Jefferies Financial Group raised their target price on shares of Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.80.

Get Our Latest Report on GGG

Insider Transactions at Graco

In related news, EVP Kathryn L. Schoenrock sold 1,466 shares of Graco stock in a transaction on Friday, November 17th. The shares were sold at an average price of $79.84, for a total value of $117,045.44. Following the sale, the executive vice president now owns 5,451 shares in the company, valued at $435,207.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Anthony J. Gargano sold 1,395 shares of Graco stock in a transaction on Friday, February 9th. The shares were sold at an average price of $88.00, for a total value of $122,760.00. Following the sale, the insider now owns 5,697 shares in the company, valued at $501,336. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kathryn L. Schoenrock sold 1,466 shares of Graco stock in a transaction on Friday, November 17th. The shares were sold at an average price of $79.84, for a total transaction of $117,045.44. Following the completion of the sale, the executive vice president now owns 5,451 shares in the company, valued at approximately $435,207.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,024 shares of company stock worth $2,645,923. Insiders own 2.98% of the company’s stock.

Graco Profile

(Free Report)

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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