K.J. Harrison & Partners Inc Sells 200 Shares of Graco Inc. (NYSE:GGG)

K.J. Harrison & Partners Inc lowered its position in Graco Inc. (NYSE:GGG) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,980 shares of the industrial products company’s stock after selling 200 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Graco were worth $2,003,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC lifted its holdings in Graco by 118.0% during the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock worth $30,000 after buying an additional 190 shares during the period. National Pension Service purchased a new stake in Graco during the fourth quarter worth $34,000. Whipplewood Advisors LLC purchased a new stake in Graco during the fourth quarter worth $37,000. Wood Tarver Financial Group LLC purchased a new stake in Graco during the fourth quarter worth $46,000. Finally, Golden State Wealth Management LLC lifted its holdings in Graco by 128.9% during the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company’s stock worth $58,000 after buying an additional 388 shares during the period. Institutional investors own 93.88% of the company’s stock.

Graco Trading Down 0.1%

Shares of GGG opened at $86.16 on Friday. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86. The stock has a fifty day moving average price of $83.88 and a 200-day moving average price of $83.77. The firm has a market cap of $14.40 billion, a PE ratio of 30.45, a P/E/G ratio of 2.91 and a beta of 1.07.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Graco had a return on equity of 19.42% and a net margin of 22.70%. The firm had revenue of $528.28 million during the quarter, compared to analyst estimates of $526.98 million. During the same quarter in the prior year, the business posted $0.65 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts forecast that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.275 per share. The ex-dividend date is Monday, July 21st. This represents a $1.10 annualized dividend and a dividend yield of 1.28%. Graco’s dividend payout ratio is presently 38.87%.

Insider Activity

In other news, insider David J. Thompson sold 3,588 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the sale, the insider now owns 27,520 shares in the company, valued at approximately $2,373,049.60. This represents a 11.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wolfe Research assumed coverage on Graco in a report on Wednesday, June 18th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

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.