Geode Capital Management LLC Acquires 77,093 Shares of Graco Inc. (NYSE:GGG)

Geode Capital Management LLC raised its position in Graco Inc. (NYSE:GGG - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,229,385 shares of the industrial products company's stock after buying an additional 77,093 shares during the period. Geode Capital Management LLC owned 2.50% of Graco worth $356,053,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GGG. Golden State Wealth Management LLC bought a new stake in Graco during the 4th quarter worth approximately $25,000. TD Private Client Wealth LLC increased its stake in shares of Graco by 118.0% in the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock valued at $30,000 after buying an additional 190 shares in the last quarter. National Pension Service acquired a new stake in shares of Graco in the fourth quarter valued at $34,000. Whipplewood Advisors LLC bought a new position in shares of Graco in the fourth quarter valued at about $37,000. Finally, Brooklyn Investment Group lifted its position in Graco by 39.1% during the 4th quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock worth $41,000 after buying an additional 136 shares in the last quarter. 93.88% of the stock is owned by institutional investors.

Graco Price Performance

GGG stock traded down $2.62 during midday trading on Thursday, reaching $76.38. 287,161 shares of the company were exchanged, compared to its average volume of 865,175. Graco Inc. has a one year low of $72.06 and a one year high of $92.86. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. The business has a 50-day moving average price of $83.84 and a two-hundred day moving average price of $85.26.

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Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 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%. As a group, analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.275 per share. The ex-dividend date is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.44%. Graco's payout ratio is presently 39.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GGG. BNP Paribas raised shares of Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price target on the stock in a research note on Thursday, December 19th. DA Davidson set a $85.00 price target on Graco in a research report on Friday, January 31st. Finally, Royal Bank of Canada upped their target price on shares of 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $93.00.

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.