Aviva PLC trimmed its position in Graco Inc. (NYSE:GGG - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,842 shares of the industrial products company's stock after selling 32,742 shares during the period. Aviva PLC owned 0.06% of Graco worth $8,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GGG. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Graco by 3.4% during the third quarter. Disciplined Growth Investors Inc. MN now owns 419,942 shares of the industrial products company's stock worth $36,749,000 after purchasing an additional 13,876 shares during the period. Allianz Asset Management GmbH raised its position in Graco by 32.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company's stock worth $130,298,000 after buying an additional 374,967 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in Graco by 2.7% during the 4th quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company's stock valued at $244,836,000 after acquiring an additional 76,184 shares during the period. Canoe Financial LP boosted its holdings in shares of Graco by 359.2% in the 4th quarter. Canoe Financial LP now owns 640,474 shares of the industrial products company's stock valued at $53,986,000 after acquiring an additional 501,003 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Graco by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,054,966 shares of the industrial products company's stock worth $88,923,000 after acquiring an additional 19,545 shares during the period. Hedge funds and other institutional investors own 93.88% of the company's stock.
Graco Stock Performance
Shares of Graco stock traded up $0.94 on Monday, hitting $80.38. The company's stock had a trading volume of 81,574 shares, compared to its average volume of 802,738. The company has a market capitalization of $13.51 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. The firm has a fifty day moving average price of $83.65 and a 200-day moving average price of $85.16. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86.
Graco (NYSE:GGG - Get Free Report) last announced its earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. As a group, analysts forecast that Graco Inc. will post 3.06 EPS for the current year.
Graco Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be given a dividend of $0.275 per share. The ex-dividend date is Monday, April 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.37%. Graco's dividend payout ratio (DPR) is presently 39.01%.
Analysts Set New Price Targets
A number of research firms recently issued reports on GGG. BNP Paribas upgraded shares of Graco from a "neutral" rating to an "outperform" rating and set a $105.00 target price for the company in a research report on Thursday, December 19th. DA Davidson set a $85.00 price objective on Graco in a report on Friday, January 31st. Finally, Royal Bank of Canada raised their target price on Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $93.00.
Check Out Our Latest Report on GGG
Graco Profile
(
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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