NewEdge Wealth LLC Cuts Stock Holdings in Graco Inc. (NYSE:GGG)

NewEdge Wealth LLC lowered its stake in Graco Inc. (NYSE:GGG - Free Report) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,098 shares of the industrial products company's stock after selling 6,021 shares during the period. NewEdge Wealth LLC's holdings in Graco were worth $2,874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Disciplined Growth Investors Inc. MN increased its stake in shares of Graco by 3.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 419,942 shares of the industrial products company's stock valued at $36,749,000 after buying an additional 13,876 shares during the period. Natixis Advisors LLC increased its position in Graco by 254.8% in the 3rd quarter. Natixis Advisors LLC now owns 195,533 shares of the industrial products company's stock valued at $17,111,000 after acquiring an additional 140,417 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Graco by 2.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 328,306 shares of the industrial products company's stock valued at $28,730,000 after acquiring an additional 8,485 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Graco by 32.0% during the fourth quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company's stock worth $130,298,000 after purchasing an additional 374,967 shares during the period. Finally, PineStone Asset Management Inc. grew its stake in shares of Graco by 2.7% in the fourth quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company's stock worth $244,836,000 after purchasing an additional 76,184 shares during the last quarter. Institutional investors own 93.88% of the company's stock.

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Graco Stock Down 1.2 %

GGG traded down $0.99 during trading on Tuesday, hitting $84.27. The company's stock had a trading volume of 775,024 shares, compared to its average volume of 798,674. The firm has a market capitalization of $14.28 billion, a P/E ratio of 29.86, a PEG ratio of 2.85 and a beta of 0.84. Graco Inc. has a twelve month low of $77.49 and a twelve month high of $94.77. The stock's fifty day moving average price is $84.74 and its 200-day moving average price is $85.28.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly 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 net margin of 23.00% and a return on equity of 19.38%. Equities research analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Monday, April 14th. Graco's dividend payout ratio (DPR) is currently 39.01%.

Analyst Upgrades and Downgrades

GGG has been the subject of several analyst reports. DA Davidson set a $85.00 target price on Graco in a research report on Friday, January 31st. Royal Bank of Canada raised their price objective on Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Finally, BNP Paribas upgraded Graco from a "neutral" rating to an "outperform" rating and set a $105.00 target price on the stock in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Graco currently has a consensus rating of "Hold" and a consensus price target 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.