Graco Inc. (NYSE:GGG) Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group decreased its position in shares of Graco Inc. (NYSE:GGG) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,269 shares of the industrial products company’s stock after selling 278 shares during the period. Rehmann Capital Advisory Group’s holdings in Graco were worth $613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Graco by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 17,141,579 shares of the industrial products company’s stock valued at $1,444,864,000 after purchasing an additional 183,335 shares during the last quarter. Geode Capital Management LLC increased its stake in Graco by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,229,385 shares of the industrial products company’s stock valued at $356,053,000 after purchasing an additional 77,093 shares during the period. PineStone Asset Management Inc. raised its holdings in shares of Graco by 2.7% in the fourth quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company’s stock valued at $244,836,000 after buying an additional 76,184 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Graco by 17.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,328,179 shares of the industrial products company’s stock worth $196,242,000 after buying an additional 337,437 shares during the period. Finally, Norges Bank purchased a new position in shares of Graco during the fourth quarter worth about $177,434,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Trading Up 0.1 %

NYSE GGG opened at $81.70 on Friday. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 2.85 and a beta of 0.92. The business’s 50 day moving average is $81.94 and its two-hundred day moving average is $84.55. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Graco had a return on equity of 19.38% and a net margin of 23.00%. The firm had revenue of $528.28 million for the quarter, compared to analyst estimates of $526.98 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. Graco’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts forecast that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, April 14th. Graco’s dividend payout ratio (DPR) is 38.87%.

Analyst Ratings Changes

A number of research firms have weighed in on GGG. DA Davidson set a $85.00 price objective on Graco in a research report on Friday, January 31st. Royal Bank of Canada lifted their price objective on shares of Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Graco presently has a consensus rating of “Hold” and an average 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.