Graco Inc. $GGG Shares Sold by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC lowered its stake in shares of Graco Inc. (NYSE:GGG) by 1.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 17,662 shares of the industrial products company’s stock after selling 254 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Graco were worth $1,518,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GGG. eCIO Inc. acquired a new position in Graco in the first quarter valued at approximately $32,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Graco by 41.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 141 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Graco in the 1st quarter valued at $41,000. Geneos Wealth Management Inc. boosted its holdings in Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after buying an additional 452 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in Graco by 128.9% during the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company’s stock worth $58,000 after buying an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Trading Up 0.8%

GGG stock opened at $84.71 on Monday. The firm has a 50-day moving average of $85.03 and a two-hundred day moving average of $84.07. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86. The company has a market cap of $14.04 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.86 and a beta of 1.03.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The company had revenue of $571.81 million during the quarter, compared to analysts’ expectations of $590.57 million. During the same quarter last year, the company earned $0.77 earnings per share. Graco’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Monday, October 20th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Graco’s dividend payout ratio (DPR) is 39.01%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wolfe Research began coverage on shares of Graco in a report on Wednesday, June 18th. They issued an “outperform” rating for the company. Robert W. Baird raised their target price on Graco from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.50.

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.