Whittier Trust Co. Has $15.67 Million Position in Graco Inc. (NYSE:GGG)

Whittier Trust Co. boosted its holdings in shares of Graco Inc. (NYSE:GGG) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,672 shares of the industrial products company’s stock after buying an additional 3,569 shares during the period. Whittier Trust Co.’s holdings in Graco were worth $15,672,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Orion Portfolio Solutions LLC boosted its position in shares of Graco by 1.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company’s stock worth $1,226,000 after purchasing an additional 138 shares during the last quarter. Values First Advisors Inc. boosted its position in shares of Graco by 0.8% in the 1st quarter. Values First Advisors Inc. now owns 23,084 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 180 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 190 shares during the last quarter. Carlson Capital Management lifted its holdings in Graco by 0.8% during the fourth quarter. Carlson Capital Management now owns 26,699 shares of the industrial products company’s stock worth $2,250,000 after acquiring an additional 200 shares in the last quarter. Finally, Optas LLC lifted its holdings in Graco by 6.0% during the first quarter. Optas LLC now owns 3,560 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insider Activity

In related news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction dated 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 transaction, the insider owned 27,520 shares in the company, valued at approximately $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.19% of the company’s stock.

Graco Price Performance

GGG opened at $87.17 on Tuesday. The business’s 50-day moving average price is $85.38 and its two-hundred day moving average price is $83.92. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86. The company has a market capitalization of $14.57 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 2.97 and a beta of 1.06.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $528.28 million for the quarter, compared to the consensus estimate of $526.98 million. Graco had a return on equity of 19.42% and a net margin of 22.70%. Graco’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. Sell-side analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, July 21st will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, July 21st. Graco’s dividend payout ratio is currently 38.87%.

Analyst Upgrades and Downgrades

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

About Graco

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.