Corebridge Financial Inc. Sells 8,707 Shares of Graco Inc. (NYSE:GGG)

Corebridge Financial Inc. cut its holdings in Graco Inc. (NYSE:GGG - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 191,048 shares of the industrial products company's stock after selling 8,707 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Graco worth $16,103,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GGG. Golden State Wealth Management LLC purchased a new position in shares of Graco in the 4th quarter worth $25,000. Brooklyn Investment Group bought a new position in shares of Graco in the 3rd quarter valued at about $30,000. TD Private Client Wealth LLC grew its position in Graco by 118.0% in the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after acquiring an additional 190 shares in the last quarter. National Pension Service bought a new stake in Graco during the fourth quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new stake in Graco during the fourth quarter valued at approximately $37,000. Institutional investors own 93.88% of the company's stock.

Graco Trading Down 1.3 %

Shares of NYSE GGG traded down $1.09 during midday trading on Friday, hitting $83.35. The company's stock had a trading volume of 583,930 shares, compared to its average volume of 779,448. The business's 50 day moving average is $85.03 and its two-hundred day moving average is $85.62. Graco Inc. has a 12-month low of $77.49 and a 12-month high of $93.25. The firm has a market cap of $14.01 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83.

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Graco (NYSE:GGG - Get Free Report) last released its earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. On average, analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be issued 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 yield of 1.32%. Graco's payout ratio is 39.01%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GGG. DA Davidson set a $85.00 target price on Graco in a report on Friday, January 31st. BNP Paribas upgraded Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price target for the company in a research report on Thursday, December 19th. Finally, Royal Bank of Canada boosted their price objective 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $93.00.

Graco Company 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.