Mitsubishi UFJ Trust & Banking Corp Boosts Stake in Graco Inc. (NYSE:GGG)

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Graco Inc. (NYSE:GGGFree Report) by 16.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,474 shares of the industrial products company’s stock after purchasing an additional 33,125 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.14% of Graco worth $17,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its position in shares of Graco by 102,901.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,793,696 shares of the industrial products company’s stock worth $322,424,000 after acquiring an additional 4,789,042 shares in the last quarter. Morgan Stanley boosted its position in shares of Graco by 156.6% during the 4th quarter. Morgan Stanley now owns 4,453,162 shares of the industrial products company’s stock worth $299,520,000 after acquiring an additional 2,718,018 shares in the last quarter. PineStone Asset Management Inc. boosted its position in shares of Graco by 251.2% during the 3rd quarter. PineStone Asset Management Inc. now owns 2,619,979 shares of the industrial products company’s stock worth $190,944,000 after acquiring an additional 1,873,902 shares in the last quarter. BlackRock Inc. boosted its position in shares of Graco by 10.3% during the 2nd quarter. BlackRock Inc. now owns 18,608,060 shares of the industrial products company’s stock worth $1,606,806,000 after acquiring an additional 1,739,458 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Graco during the 4th quarter worth about $116,116,000. 84.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Graco

In related news, insider Caroline M. Chambers sold 12,992 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $80.59, for a total value of $1,047,025.28. Following the completion of the transaction, the insider now directly owns 56,409 shares of the company’s stock, valued at approximately $4,546,001.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Graco news, insider Caroline M. Chambers sold 12,992 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $80.59, for a total transaction of $1,047,025.28. Following the sale, the insider now owns 56,409 shares in the company, valued at approximately $4,546,001.31. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark W. Sheahan sold 12,884 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $83.37, for a total value of $1,074,139.08. Following the sale, the chief executive officer now owns 93,182 shares in the company, valued at approximately $7,768,583.34. The disclosure for this sale can be found here. Insiders sold 32,024 shares of company stock valued at $2,645,923 in the last ninety days. Corporate insiders own 2.98% of the company’s stock.

Graco Price Performance

NYSE GGG opened at $88.11 on Tuesday. Graco Inc. has a 1-year low of $66.17 and a 1-year high of $88.31. The company has a market capitalization of $14.87 billion, a P/E ratio of 29.97, a PEG ratio of 2.81 and a beta of 0.81. The business has a 50 day moving average price of $85.05 and a 200 day moving average price of $79.42.

Graco Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GGG shares. Royal Bank of Canada upped their price objective on Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com raised Graco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Jefferies Financial Group upped their target price on Graco from $90.00 to $100.00 and gave the company a “buy” rating in a research 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 company’s stock. Based on data from MarketBeat.com, Graco currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

Check Out Our Latest Stock Analysis on Graco

About Graco

(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.

See Also

Institutional Ownership by Quarter for Graco (NYSE:GGG)

Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.