Graco (NYSE:GGG) Director Sells $1,146,330.90 in Stock

Graco Inc. (NYSE:GGG) Director J Kevin Gilligan sold 12,870 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total transaction of $1,146,330.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Graco Stock Up 0.5%

NYSE:GGG opened at $92.90 on Friday. The firm has a 50 day moving average of $85.10 and a 200 day moving average of $84.11. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.90 and a beta of 1.08. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $93.77.

Graco (NYSE:GGG) last posted its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The firm had revenue of $593.16 million during the quarter, compared to analysts’ expectations of $591.99 million. During the same quarter last year, the firm earned $0.64 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, analysts expect that Graco Inc. will post 3.06 EPS for the current year.

Graco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, January 19th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $1.18 annualized dividend and a yield of 1.3%. This is a boost from Graco’s previous quarterly dividend of $0.28. Graco’s payout ratio is presently 38.19%.

Graco declared that its Board of Directors has initiated a share buyback plan on Friday, December 5th that authorizes the company to buyback 15,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Graco

Institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC acquired a new position in shares of Graco in the third quarter valued at approximately $29,000. NewSquare Capital LLC lifted its holdings in Graco by 320.7% during the 2nd quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after buying an additional 263 shares during the last quarter. CX Institutional lifted its stake in Graco by 316.7% during the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 361 shares during the last quarter. Assetmark Inc. lifted its position in shares of Graco by 42.6% during the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after buying an additional 139 shares during the last quarter. Finally, Field & Main Bank purchased a new stake in Graco in the fourth quarter valued at $41,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on GGG shares. Royal Bank Of Canada upped their price objective on shares of Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. KeyCorp reissued a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. DA Davidson reiterated a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday, February 2nd. Robert W. Baird set a $96.00 price objective on shares of Graco in a research note on Wednesday, January 28th. Finally, Jefferies Financial Group boosted their price objective on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $96.50.

Graco Company Profile

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.