Graco (NYSE:GGG) PT Lowered to $87.00 at Robert W. Baird

Graco (NYSE:GGG) had its target price lowered by Robert W. Baird from $90.00 to $87.00 in a research note issued to investors on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on GGG. Jefferies Financial Group lifted their target price on Graco from $90.00 to $100.00 and gave the stock a buy rating in a report on Thursday, January 11th. StockNews.com raised Graco from a hold rating to a buy rating in a report on Wednesday, January 3rd. Finally, Royal Bank of Canada raised their target price on shares of Graco from $91.00 to $93.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $88.25.

Graco Price Performance

GGG stock opened at $81.97 on Friday. Graco has a 1-year low of $69.78 and a 1-year high of $94.77. The business has a 50 day simple moving average of $90.91 and a two-hundred day simple moving average of $85.07. The company has a market capitalization of $13.86 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 2.63 and a beta of 0.81.

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

Graco Announces Dividend

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

Insider Activity

In related news, VP Angela F. Wordell sold 3,588 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Angela F. Wordell sold 3,588 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total transaction of $335,836.80. Following the transaction, the vice president now directly owns 12,725 shares in the company, valued at approximately $1,191,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony J. Gargano sold 1,395 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 5,697 shares of the company’s stock, valued at approximately $501,336. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,378 shares of company stock valued at $4,376,528. 2.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Graco

Hedge funds have recently bought and sold shares of the business. Tobam lifted its position in shares of Graco by 2,330.8% during the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 303 shares during the last quarter. Sound Income Strategies LLC bought a new stake in Graco during the 4th quarter valued at about $28,000. Fortitude Family Office LLC purchased a new stake in Graco in the 4th quarter valued at about $29,000. Rise Advisors LLC bought a new position in Graco in the 1st quarter worth about $38,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Graco by 3,063.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 582 shares during the period. Institutional investors own 93.88% of the company’s stock.

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.