Insider Selling: Graco (NYSE:GGG) EVP Sells 2,223 Shares of Stock

Graco Inc. (NYSE:GGG) EVP Kathryn Schoenrock sold 2,223 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total value of $195,757.38. Following the completion of the sale, the executive vice president owned 7,846 shares of the company’s stock, valued at $690,918.76. The trade was a 22.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Graco Trading Up 2.0%

GGG stock opened at $90.26 on Wednesday. The stock has a market cap of $14.96 billion, a PE ratio of 29.21, a P/E/G ratio of 2.78 and a beta of 1.08. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $89.70. The company has a 50-day moving average price of $84.50 and a 200 day moving average price of $83.95.

Graco (NYSE:GGG) last announced its earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The business had revenue of $593.16 million during the quarter, compared to analyst estimates of $591.99 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts forecast that Graco Inc. will post 3.06 EPS for the current year.

Graco declared that its board has approved a stock buyback program on Friday, December 5th that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Graco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Monday, January 19th will be issued a $0.295 dividend. The ex-dividend date is Friday, January 16th. This is a boost from Graco’s previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.3%. Graco’s dividend payout ratio (DPR) is currently 38.19%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GGG shares. Royal Bank Of Canada upped their target price on Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Jefferies Financial Group lifted their price objective on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. DA Davidson reiterated a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday. KeyCorp restated a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Graco in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $96.50.

Institutional Investors Weigh In On Graco

A number of hedge funds have recently modified their holdings of the business. Root Financial Partners LLC acquired a new stake in shares of Graco during the 3rd quarter worth approximately $29,000. NewSquare Capital LLC increased its stake in Graco by 320.7% during the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 263 shares during the last quarter. CX Institutional raised its position in Graco by 316.7% in the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 361 shares during the period. Assetmark Inc. lifted its stake in shares of Graco by 42.6% in the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 139 shares during the last quarter. Finally, Field & Main Bank purchased a new position in shares of Graco during the 4th quarter worth $41,000. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.