Raiffeisen Bank International AG increased its position in shares of Graco Inc. (NYSE:GGG – Free Report) by 124.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 269,400 shares of the industrial products company’s stock after purchasing an additional 149,190 shares during the period. Raiffeisen Bank International AG owned approximately 0.17% of Graco worth $20,372,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Graco during the first quarter worth $26,000. Whipplewood Advisors LLC grew its stake in shares of Graco by 2,650.0% in the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Essential Partners LLC grew its stake in shares of Graco by 78.6% in the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 158 shares in the last quarter. Elevation Wealth Partners LLC increased its position in Graco by 2,540.0% during the second quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 508 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.
Graco Stock Up 0.6%
GGG opened at $78.14 on Friday. The stock has a market capitalization of $12.65 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 2.44 and a beta of 0.92. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69. The company has a 50-day simple moving average of $78.35 and a 200 day simple moving average of $81.07.
Graco Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, July 20th. Graco’s dividend payout ratio (DPR) is 37.11%.
Analyst Upgrades and Downgrades
GGG has been the subject of a number of recent research reports. Robert W. Baird set a $94.00 price objective on shares of Graco in a report on Friday, July 24th. Royal Bank Of Canada raised their target price on shares of Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Wolfe Research cut Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. DA Davidson reissued a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded Graco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Graco has an average rating of “Hold” and an average target price of $95.00.
View Our Latest Report on Graco
About Graco
Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.
The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.
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