Taylor Frigon Capital Management LLC Decreases Stake in Graco Inc. (NYSE:GGG)

Taylor Frigon Capital Management LLC lessened its stake in Graco Inc. (NYSE:GGG) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,806 shares of the industrial products company’s stock after selling 348 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Graco were worth $1,501,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GGG. Allspring Global Investments Holdings LLC boosted its stake in shares of Graco by 48.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,106 shares of the industrial products company’s stock valued at $97,000 after buying an additional 361 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Graco by 45,002.6% in the 3rd quarter. International Assets Investment Management LLC now owns 17,590 shares of the industrial products company’s stock valued at $15,390,000 after buying an additional 17,551 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Graco by 40.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 199,393 shares of the industrial products company’s stock valued at $17,297,000 after buying an additional 57,580 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Graco by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 28,922 shares of the industrial products company’s stock valued at $2,530,000 after buying an additional 1,330 shares during the period. Finally, Inscription Capital LLC purchased a new position in shares of Graco in the 3rd quarter valued at about $208,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Insider Buying and Selling

In related news, insider Caroline M. Chambers sold 8,280 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $90.57, for a total transaction of $749,919.60. Following the transaction, the insider now owns 57,612 shares of the company’s stock, valued at $5,217,918.84. This represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Graco Trading Down 1.2 %

NYSE:GGG opened at $85.79 on Thursday. The firm has a market cap of $14.54 billion, a P/E ratio of 30.42, a PEG ratio of 2.85 and a beta of 0.84. The stock’s 50 day simple moving average is $84.65 and its 200-day simple moving average is $85.13. Graco Inc. has a 12-month low of $77.49 and a 12-month high of $94.77.

Graco (NYSE:GGG) last released its earnings results 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 net margin of 23.00% and a return on equity of 19.38%. Research analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, April 14th. Graco’s dividend payout ratio is presently 39.01%.

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.