Bank of New York Mellon Corp Purchases 70,927 Shares of Graco Inc. (NYSE:GGG)

Bank of New York Mellon Corp increased its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,664,427 shares of the industrial products company's stock after purchasing an additional 70,927 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.99% of Graco worth $140,295,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GGG. Golden State Wealth Management LLC bought a new stake in Graco during the 4th quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in shares of Graco in the third quarter valued at about $30,000. Catalyst Capital Advisors LLC bought a new stake in Graco during the fourth quarter worth about $61,000. MilWealth Group LLC acquired a new position in Graco during the fourth quarter valued at approximately $63,000. Finally, UMB Bank n.a. grew its stake in Graco by 93.1% in the fourth quarter. UMB Bank n.a. now owns 956 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 461 shares in the last quarter. Institutional investors own 93.88% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GGG shares. BNP Paribas upgraded Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price objective on the stock in a research note on Thursday, December 19th. Royal Bank of Canada upped their price target on shares of Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Finally, DA Davidson set a $85.00 price objective on shares of Graco in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $93.00.

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Graco Stock Down 1.2 %

Shares of GGG stock traded down $1.00 during trading on Tuesday, reaching $84.26. 740,989 shares of the company's stock were exchanged, compared to its average volume of 797,450. Graco Inc. has a twelve month low of $77.49 and a twelve month high of $94.77. The firm's fifty day moving average price is $84.74 and its 200-day moving average price is $85.28. The stock has a market capitalization of $14.28 billion, a PE ratio of 29.87, a PEG ratio of 2.85 and a beta of 0.84.

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

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be issued a $0.275 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.10 annualized dividend and a yield of 1.31%. Graco's dividend payout ratio is currently 39.01%.

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.