Shares of Graco Inc. (NYSE:GGG) have been assigned an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $49.33.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Graco from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. B. Riley reissued a “neutral” rating on shares of Graco in a report on Wednesday, November 1st. ValuEngine lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Deutsche Bank raised shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada reissued a “hold” rating and set a $49.00 price objective on shares of Graco in a report on Thursday, January 4th.
In other news, CFO Christian E. Rothe sold 12,750 shares of Graco stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $132.01, for a total value of $1,683,127.50. Following the completion of the transaction, the chief financial officer now directly owns 16,905 shares of the company’s stock, valued at approximately $2,231,629.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Caroline M. Chambers sold 9,939 shares of Graco stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.03, for a total transaction of $417,736.17. Following the completion of the transaction, the vice president now directly owns 30,615 shares of the company’s stock, valued at $1,286,748.45. The disclosure for this sale can be found here. Insiders sold a total of 91,689 shares of company stock valued at $6,646,134 over the last ninety days. Company insiders own 5.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GGG. FMR LLC acquired a new position in shares of Graco in the 2nd quarter valued at about $16,392,000. Dimensional Fund Advisors LP boosted its holdings in shares of Graco by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 374,426 shares of the industrial products company’s stock valued at $40,917,000 after buying an additional 3,629 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Graco by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 81,834 shares of the industrial products company’s stock valued at $8,943,000 after buying an additional 1,017 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Graco by 11.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,798 shares of the industrial products company’s stock valued at $743,000 after buying an additional 698 shares during the period. Finally, Shell Asset Management Co. acquired a new position in shares of Graco in the 3rd quarter valued at about $1,080,000. 64.67% of the stock is owned by institutional investors and hedge funds.
Shares of Graco (NYSE:GGG) opened at $43.96 on Wednesday. Graco has a one year low of $29.70 and a one year high of $49.69. The stock has a market cap of $7,415.90, a price-to-earnings ratio of 30.25, a P/E/G ratio of 2.35 and a beta of 1.15. The company has a current ratio of 2.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31.
Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The company had revenue of $374.90 million for the quarter, compared to analyst estimates of $369.53 million. Graco had a return on equity of 40.08% and a net margin of 17.12%. Graco’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 earnings per share. analysts expect that Graco will post 1.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Monday, April 16th will be issued a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, April 13th. Graco’s dividend payout ratio (DPR) is presently 36.47%.
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Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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