Graco Inc. (NYSE:GGG) Insider David J. Thompson Sells 3,216 Shares

Graco Inc. (NYSE:GGG) insider David J. Thompson sold 3,216 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $88.31, for a total value of $284,004.96. Following the completion of the sale, the insider now owns 27,246 shares of the company’s stock, valued at $2,406,094.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Graco Stock Down 1.4 %

GGG opened at $87.53 on Friday. Graco Inc. has a 52 week low of $76.28 and a 52 week high of $94.77. The business has a fifty day simple moving average of $84.29 and a 200-day simple moving average of $82.33. The firm has a market cap of $14.78 billion, a P/E ratio of 30.93, a P/E/G ratio of 2.85 and a beta of 0.82.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Graco had a return on equity of 21.24% and a net margin of 22.87%. The business had revenue of $519.21 million for the quarter, compared to analysts’ expectations of $538.19 million. During the same quarter last year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. Sell-side analysts expect that Graco Inc. will post 2.92 earnings per share for the current year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Monday, October 21st. Graco’s dividend payout ratio is currently 36.04%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird reduced their price target on Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada dropped their price target on shares of Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, DA Davidson reiterated a “neutral” rating and issued a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Graco presently has an average rating of “Hold” and a consensus target price of $89.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its position in shares of Graco by 671.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,320 shares of the industrial products company’s stock worth $123,000 after buying an additional 1,149 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Graco during the 1st quarter worth $289,000. Private Advisor Group LLC increased its holdings in Graco by 8.4% in the first quarter. Private Advisor Group LLC now owns 17,752 shares of the industrial products company’s stock valued at $1,659,000 after buying an additional 1,377 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Graco by 51.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,954 shares of the industrial products company’s stock worth $1,024,000 after acquiring an additional 3,740 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in Graco by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 147,721 shares of the industrial products company’s stock worth $13,806,000 after purchasing an additional 1,912 shares in the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

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.