Fortitude Family Office LLC Invests $29,000 in Graco Inc. (NYSE:GGG)

Fortitude Family Office LLC acquired a new position in Graco Inc. (NYSE:GGGFree Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 332 shares of the industrial products company’s stock, valued at approximately $29,000.

Several other hedge funds also recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. increased its position in shares of Graco by 5.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 73,304 shares of the industrial products company’s stock worth $6,360,000 after acquiring an additional 3,520 shares in the last quarter. Whittier Trust Co. increased its position in shares of Graco by 2.5% in the fourth quarter. Whittier Trust Co. now owns 157,363 shares of the industrial products company’s stock worth $13,653,000 after acquiring an additional 3,892 shares in the last quarter. Vest Financial LLC purchased a new position in shares of Graco in the fourth quarter worth approximately $242,000. Handelsinvest Investeringsforvaltning purchased a new position in shares of Graco in the fourth quarter worth approximately $560,000. Finally, Marshall Financial Group LLC purchased a new position in shares of Graco in the fourth quarter worth approximately $928,000. Institutional investors and hedge funds own 84.94% of the company’s stock.

Graco Stock Performance

GGG stock opened at $94.35 on Friday. The stock has a market cap of $15.90 billion, a P/E ratio of 32.09, a P/E/G ratio of 3.02 and a beta of 0.81. The firm has a 50 day simple moving average of $88.90 and a 200 day simple moving average of $82.16. Graco Inc. has a 52 week low of $67.98 and a 52 week high of $94.77.

Graco (NYSE:GGGGet Free Report) last posted its earnings results on Monday, January 29th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $566.64 million during the quarter, compared to analysts’ expectations of $565.86 million. Graco had a net margin of 23.07% and a return on equity of 24.61%. Sell-side analysts predict that Graco Inc. will post 3.14 EPS for the current year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, April 12th. Graco’s dividend payout ratio (DPR) is presently 34.69%.

Insider Buying and Selling at Graco

In other Graco news, VP Angela F. Wordell sold 3,588 shares of Graco stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total value of $335,836.80. Following the completion of the sale, the vice president now directly owns 12,725 shares in the company, valued at $1,191,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jody H. Feragen sold 5,036 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $92.29, for a total value of $464,772.44. Following the completion of the sale, the director now directly owns 44,903 shares in the company, valued at $4,144,097.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Angela F. Wordell sold 3,588 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total transaction of $335,836.80. Following the completion of the sale, the vice president now owns 12,725 shares of the company’s stock, valued at $1,191,060. The disclosure for this sale can be found here. Insiders sold 61,262 shares of company stock worth $5,450,667 over the last ninety days. 2.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GGG has been the topic of several analyst reports. StockNews.com raised shares of Graco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada raised their price target on shares of Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, Jefferies Financial Group raised their price target 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.80.

Read Our Latest Stock Report on GGG

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 Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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