Hsbc Holdings PLC Has $64.49 Million Stock Holdings in Graco Inc. $GGG

Hsbc Holdings PLC lifted its stake in Graco Inc. (NYSE:GGG) by 29.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 786,697 shares of the industrial products company’s stock after acquiring an additional 176,739 shares during the quarter. Hsbc Holdings PLC’s holdings in Graco were worth $64,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Graco in the fourth quarter valued at approximately $161,949,000. Bank of Montreal Can raised its holdings in shares of Graco by 1,636.9% during the 4th quarter. Bank of Montreal Can now owns 1,011,196 shares of the industrial products company’s stock valued at $82,888,000 after purchasing an additional 952,977 shares in the last quarter. Caisse de depot et placement du Quebec lifted its stake in shares of Graco by 236.4% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company’s stock valued at $108,711,000 after purchasing an additional 899,174 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Graco by 20,706.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock worth $45,605,000 after purchasing an additional 553,688 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Graco by 116.8% during the second quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company’s stock worth $63,201,000 after buying an additional 396,125 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director Andrea Helen Simon purchased 1,240 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the purchase, the director directly owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings cut Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Robert W. Baird cut their price objective on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Graco in a report on Friday, April 24th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Graco has a consensus rating of “Hold” and an average price target of $94.25.

Graco Price Performance

NYSE:GGG opened at $75.22 on Monday. Graco Inc. has a one year low of $73.15 and a one year high of $95.69. The company has a fifty day moving average price of $76.31 and a 200 day moving average price of $83.53. The stock has a market cap of $12.48 billion, a P/E ratio of 24.50, a PEG ratio of 2.42 and a beta of 0.93.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The company had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. Graco’s dividend payout ratio (DPR) is 38.44%.

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.