Aware Super Pty Ltd as trustee of Aware Super Takes $8.87 Million Position in Graco Inc. $GGG

Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Graco Inc. (NYSE:GGG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 104,798 shares of the industrial products company’s stock, valued at approximately $8,871,000. Aware Super Pty Ltd as trustee of Aware Super owned about 0.06% of Graco as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its stake in shares of Graco by 3.2% during the fourth quarter. State Street Corp now owns 7,813,877 shares of the industrial products company’s stock valued at $640,503,000 after acquiring an additional 242,817 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Graco by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 4,652,241 shares of the industrial products company’s stock valued at $380,642,000 after purchasing an additional 261,126 shares during the period. Morgan Stanley increased its stake in Graco by 5.4% in the fourth quarter. Morgan Stanley now owns 4,057,036 shares of the industrial products company’s stock valued at $332,556,000 after purchasing an additional 206,949 shares during the last quarter. Amundi increased its stake in shares of Graco by 2.6% during the 3rd quarter. Amundi now owns 2,076,887 shares of the industrial products company’s stock valued at $176,016,000 after acquiring an additional 53,126 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Graco during the 4th quarter worth about $161,949,000. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Andrea Helen Simon purchased 1,240 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were acquired at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the transaction, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.18% of the stock is currently owned by company insiders.

Graco Stock Down 2.1%

NYSE:GGG opened at $74.61 on Friday. The company has a market cap of $12.38 billion, a PE ratio of 24.30, a P/E/G ratio of 2.45 and a beta of 0.93. The business’s 50 day moving average is $75.18 and its two-hundred day moving average is $82.90. Graco Inc. has a 52 week low of $72.51 and a 52 week high of $95.69.

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

Graco Announces Dividend

The firm also recently disclosed 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. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, July 20th. Graco’s dividend payout ratio is currently 38.44%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $92.00 price target (down from $95.00) on shares of Graco in a research report on Thursday. DA Davidson reiterated a “neutral” rating and set a $85.00 target price on shares of Graco in a report on Monday, April 27th. Robert W. Baird dropped their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Wolfe Research cut shares of Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Graco currently has a consensus rating of “Hold” and a consensus price target of $93.50.

About Graco

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.