Evoke Wealth LLC Has $4.10 Million Stock Holdings in Graco Inc. (NYSE:GGG)

Evoke Wealth LLC reduced its position in shares of Graco Inc. (NYSE:GGG) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,611 shares of the industrial products company’s stock after selling 2,478 shares during the period. Evoke Wealth LLC’s holdings in Graco were worth $4,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in Graco by 6.3% during the 3rd quarter. State Street Corp now owns 7,458,988 shares of the industrial products company’s stock worth $652,736,000 after acquiring an additional 443,141 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Graco by 4.8% in the third quarter. Geode Capital Management LLC now owns 4,152,292 shares of the industrial products company’s stock worth $362,808,000 after purchasing an additional 188,579 shares during the last quarter. PineStone Asset Management Inc. increased its holdings in 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 purchasing an additional 76,184 shares during the period. Principal Financial Group Inc. raised its position in Graco by 17.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,328,179 shares of the industrial products company’s stock worth $196,242,000 after purchasing an additional 337,437 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Graco by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,664,427 shares of the industrial products company’s stock worth $140,295,000 after buying an additional 70,927 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Up 0.5 %

Graco stock opened at $84.33 on Tuesday. The company has a market capitalization of $14.18 billion, a PE ratio of 29.90, a PEG ratio of 2.85 and a beta of 0.83. The firm’s fifty day moving average is $84.89 and its 200 day moving average is $85.52. Graco Inc. has a 12-month low of $77.49 and a 12-month high of $94.77.

Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. Sell-side analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.30%. Graco’s dividend payout ratio is 39.01%.

Wall Street Analyst Weigh In

GGG has been the subject of several recent research reports. BNP Paribas raised Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price target for the company in a research note on Thursday, December 19th. DA Davidson set a $85.00 price target on shares of Graco in a research report on Friday, January 31st. Finally, Royal Bank of Canada lifted their target price on shares of Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Graco presently has an average rating of “Hold” and a consensus target price of $93.00.

Graco 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.