Fmr LLC Has $2.84 Million Holdings in Graco Inc. (NYSE:GGG)

FMR LLC lifted its position in Graco Inc. (NYSE:GGG - Free Report) by 33.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,418 shares of the industrial products company's stock after acquiring an additional 8,166 shares during the period. FMR LLC's holdings in Graco were worth $2,837,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Gradient Investments LLC acquired a new stake in Graco during the 2nd quarter worth about $27,000. UMB Bank n.a. boosted its holdings in shares of 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 period. Blue Trust Inc. grew its position in Graco by 220.9% during the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 475 shares in the last quarter. Eastern Bank acquired a new position in Graco in the 3rd quarter valued at approximately $59,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Graco in the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 93.88% of the company's stock.

Insider Buying and Selling

In related news, insider Caroline M. Chambers sold 8,280 shares of the 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 completion of the sale, the insider now owns 57,612 shares in the company, valued at approximately $5,217,918.84. This trade represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter J. O'shea sold 18,075 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 14,516 shares in the company, valued at $1,288,440.16. This represents a 55.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,098 shares of company stock valued at $2,776,150. Company insiders own 2.63% of the company's stock.

Graco Trading Down 0.8 %

Graco stock traded down $0.72 during mid-day trading on Friday, hitting $87.93. 400,024 shares of the company's stock were exchanged, compared to its average volume of 744,346. Graco Inc. has a 1-year low of $77.49 and a 1-year high of $94.77. The stock has a 50 day moving average of $87.21 and a two-hundred day moving average of $83.55. The stock has a market cap of $14.85 billion, a P/E ratio of 31.07, a P/E/G ratio of 3.11 and a beta of 0.83.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.05). The company 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 firm's revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. As a group, research analysts predict that Graco Inc. will post 2.89 EPS for the current fiscal year.

Graco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Monday, January 20th will be issued a dividend of $0.275 per share. This is an increase from Graco's previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, January 17th. Graco's dividend payout ratio is currently 38.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GGG. Royal Bank of Canada lowered their price target on shares of Graco from $96.00 to $93.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. DA Davidson reaffirmed a "neutral" rating and issued a $79.00 target price on shares of Graco in a research report on Friday, September 27th. Finally, Robert W. Baird reduced their price target on Graco from $88.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Four 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, the company currently has a consensus rating of "Hold" and a consensus price target of $89.25.

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.