Graco (NYSE:GGG) Earns Market Perform Rating from William Blair

William Blair restated their market perform rating on shares of Graco (NYSE:GGG) in a report published on Friday morning, RTT News reports.

Several other analysts also recently weighed in on the stock. StockNews.com raised shares of Graco from a hold rating to a buy rating in a research note on Wednesday, January 3rd. Robert W. Baird dropped their target price on Graco from $90.00 to $87.00 and set a neutral rating for the company in a report on Friday. Jefferies Financial Group lifted their price target on Graco from $90.00 to $100.00 and gave the stock a buy rating in a research note on Thursday, January 11th. Finally, Royal Bank of Canada increased their price objective on Graco from $91.00 to $93.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $88.25.

Graco Stock Performance

Shares of NYSE:GGG opened at $81.97 on Friday. The firm has a market capitalization of $13.86 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.63 and a beta of 0.81. The firm has a fifty day moving average of $90.91 and a 200 day moving average of $85.07. Graco has a 52-week low of $69.78 and a 52-week high of $94.77.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.09). The firm had revenue of $492.19 million during the quarter, compared to analysts’ expectations of $536.19 million. Graco had a return on equity of 23.01% and a net margin of 23.15%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. On average, sell-side analysts forecast that Graco will post 3.14 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, April 12th. Graco’s dividend payout ratio (DPR) is currently 35.17%.

Insider Transactions at Graco

In related news, insider Anthony J. Gargano sold 1,395 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $88.00, for a total transaction of $122,760.00. Following the completion of the transaction, the insider now owns 5,697 shares in the company, valued at $501,336. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Anthony J. Gargano sold 1,395 shares of Graco stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.00, for a total transaction of $122,760.00. Following the sale, the insider now owns 5,697 shares of the company’s stock, valued at approximately $501,336. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian E. Rothe sold 15,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $90.04, for a total transaction of $1,350,600.00. Following the completion of the transaction, the insider now directly owns 25,583 shares of the company’s stock, valued at $2,303,493.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,378 shares of company stock worth $4,376,528. 2.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Graco

Hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC grew its position in shares of Graco by 1.9% in the 1st quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock worth $700,000 after buying an additional 139 shares during the period. Meeder Advisory Services Inc. grew its holdings in Graco by 5.5% in the third quarter. Meeder Advisory Services Inc. now owns 3,004 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 157 shares during the period. Taylor Frigon Capital Management LLC increased its stake in shares of Graco by 0.9% during the third quarter. Taylor Frigon Capital Management LLC now owns 18,734 shares of the industrial products company’s stock valued at $1,365,000 after purchasing an additional 163 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Graco by 0.3% during the first quarter. Spire Wealth Management now owns 66,975 shares of the industrial products company’s stock valued at $6,260,000 after purchasing an additional 176 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of Graco by 24.3% in the 4th quarter. Lindbrook Capital LLC now owns 931 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 182 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

Graco Company Profile

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.