Raiffeisen Bank International AG Has $20.37 Million Holdings in Graco Inc. $GGG

Raiffeisen Bank International AG raised its holdings in Graco Inc. (NYSE:GGG) by 124.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,400 shares of the industrial products company’s stock after acquiring an additional 149,190 shares during the period. Raiffeisen Bank International AG’s holdings in Graco were worth $20,372,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GGG. Goldman Sachs Group Inc. grew its holdings in shares of Graco by 15.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock valued at $27,592,000 after purchasing an additional 44,573 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Graco by 97.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 870 shares during the last quarter. Marshall Wace LLP lifted its stake in Graco by 559.5% in the 2nd quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company’s stock valued at $9,293,000 after purchasing an additional 91,708 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Graco by 4.2% in the second quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company’s stock valued at $1,830,000 after buying an additional 852 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings raised shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. DA Davidson reiterated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Robert W. Baird set a $94.00 price objective on Graco in a report on Friday, July 24th. Royal Bank Of Canada boosted their price objective on Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Wolfe Research cut Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Graco presently has a consensus rating of “Hold” and an average target price of $95.00.

Graco Price Performance

GGG opened at $78.14 on Friday. Graco Inc. has a fifty-two week low of $72.51 and a fifty-two week high of $95.69. The firm has a market capitalization of $12.65 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 2.44 and a beta of 0.92. The company’s 50 day moving average price is $78.35 and its two-hundred day moving average price is $81.07.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. The firm had revenue of $590.55 million during the quarter, compared to analysts’ expectations of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. As a group, equities research analysts predict that Graco Inc. will post 3.19 EPS for the current year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, July 20th. Graco’s dividend payout ratio is presently 37.11%.

About Graco

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.