Natixis Advisors LLC increased its holdings in Graco Inc. (NYSE:GGG - Free Report) by 254.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,533 shares of the industrial products company's stock after acquiring an additional 140,417 shares during the period. Natixis Advisors LLC owned about 0.12% of Graco worth $17,111,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Gradient Investments LLC purchased a new position in Graco during the 2nd quarter worth $27,000. New Covenant Trust Company N.A. bought a new position in shares of Graco during the first quarter valued at about $43,000. UMB Bank n.a. boosted its holdings in Graco by 187.8% during the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company's stock worth $43,000 after purchasing an additional 323 shares during the last quarter. Blue Trust Inc. grew its position in Graco by 220.9% in the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company's stock worth $55,000 after purchasing an additional 475 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Graco in the 3rd quarter valued at about $59,000. Institutional investors own 93.88% of the company's stock.
Insiders Place Their Bets
In other Graco news, insider David J. Thompson sold 3,216 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total transaction of $284,004.96. Following the sale, the insider now owns 27,246 shares in the company, valued at $2,406,094.26. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Peter J. O'shea sold 18,075 shares of Graco stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $88.76, for a total value of $1,604,337.00. Following the completion of the transaction, the insider now owns 14,516 shares of the company's stock, valued at approximately $1,288,440.16. This trade represents a 55.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.63% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on GGG shares. Robert W. Baird reduced their target price on Graco from $88.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Royal Bank of Canada cut their price objective on Graco from $96.00 to $93.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $79.00 target price on shares of Graco in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $89.25.
View Our Latest Stock Analysis on GGG
Graco Trading Down 2.6 %
NYSE:GGG opened at $87.82 on Wednesday. Graco Inc. has a 12 month low of $77.49 and a 12 month high of $94.77. The firm's 50 day moving average is $85.43 and its 200 day moving average is $82.59. The stock has a market capitalization of $14.83 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 3.07 and a beta of 0.82.
Graco (NYSE:GGG - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $519.21 million during the quarter, compared to the consensus estimate of $538.19 million. Graco had a net margin of 22.87% and a return on equity of 21.24%. The business's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Research analysts predict that Graco Inc. will post 2.91 earnings per share for the current year.
Graco Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.16%. The ex-dividend date was Monday, October 21st. Graco's dividend payout ratio (DPR) is presently 36.04%.
Graco Profile
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Free Report)
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.
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