Allianz Asset Management GmbH Grows Stock Position in Graco Inc. (NYSE:GGG)

Allianz Asset Management GmbH increased its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 32.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,545,846 shares of the industrial products company's stock after purchasing an additional 374,967 shares during the quarter. Allianz Asset Management GmbH owned 0.92% of Graco worth $130,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Institute for Wealth Management LLC. increased its position in Graco by 2.5% during the 4th quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company's stock worth $410,000 after purchasing an additional 119 shares during the period. Albert D Mason Inc. grew its holdings in Graco by 0.4% during the fourth quarter. Albert D Mason Inc. now owns 27,923 shares of the industrial products company's stock worth $2,354,000 after acquiring an additional 121 shares during the period. Ballentine Partners LLC raised its position in Graco by 3.1% in the third quarter. Ballentine Partners LLC now owns 4,222 shares of the industrial products company's stock worth $369,000 after acquiring an additional 128 shares in the last quarter. Optas LLC lifted its holdings in Graco by 4.0% in the fourth quarter. Optas LLC now owns 3,360 shares of the industrial products company's stock valued at $283,000 after acquiring an additional 128 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of 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 purchasing an additional 136 shares in the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

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Graco Stock Performance

NYSE:GGG traded up $0.54 during mid-day trading on Tuesday, hitting $86.83. 885,832 shares of the company's stock traded hands, compared to its average volume of 776,420. The company has a market cap of $14.72 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 2.85 and a beta of 0.84. The firm's 50 day simple moving average is $84.59 and its 200 day simple moving average is $85.07. Graco Inc. has a 1 year low of $77.49 and a 1 year high of $94.77.

Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings results 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%. On average, research analysts expect that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

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 given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, April 14th. Graco's payout ratio is 39.01%.

Analysts Set New Price Targets

Several brokerages recently commented on GGG. DA Davidson set a $85.00 price objective on shares of Graco in a research note on Friday, January 31st. Royal Bank of Canada lifted their price target on shares of Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Finally, BNP Paribas raised 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Graco currently has an average rating of "Hold" and an average price target of $93.00.

Insider Transactions at Graco

In other Graco news, insider Caroline M. Chambers sold 8,280 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $90.57, for a total value of $749,919.60. Following the transaction, the insider now directly owns 57,612 shares in the company, valued at approximately $5,217,918.84. This represents a 12.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $90.30, for a total transaction of $137,888.10. Following the sale, the executive vice president now directly owns 6,374 shares in the company, valued at $575,572.20. This represents a 19.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.63% of the company's stock.

About Graco

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.