JPMorgan Chase & Co. Has $50.93 Million Stock Holdings in Graco Inc. (NYSE:GGG)

JPMorgan Chase & Co. reduced its position in Graco Inc. (NYSE:GGG - Free Report) by 10.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 604,179 shares of the industrial products company's stock after selling 73,939 shares during the period. JPMorgan Chase & Co. owned 0.36% of Graco worth $50,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its stake in Graco by 33.7% in the 3rd quarter. FMR LLC now owns 32,418 shares of the industrial products company's stock valued at $2,837,000 after buying an additional 8,166 shares in the last quarter. Townsquare Capital LLC acquired a new position in Graco in the third quarter worth about $299,000. Captrust Financial Advisors grew its holdings in shares of Graco by 2.2% during the third quarter. Captrust Financial Advisors now owns 20,434 shares of the industrial products company's stock valued at $1,788,000 after purchasing an additional 434 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in shares of Graco by 69.6% during the third quarter. Chevy Chase Trust Holdings LLC now owns 51,961 shares of the industrial products company's stock valued at $4,547,000 after purchasing an additional 21,315 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its holdings in Graco by 50.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 5,635 shares of the industrial products company's stock worth $493,000 after buying an additional 1,900 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GGG. BNP Paribas raised Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price objective for the company in a report on Thursday, December 19th. Royal Bank of Canada increased their price target on Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Finally, DA Davidson set a $85.00 price target on Graco in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Graco has a consensus rating of "Hold" and a consensus target price of $93.00.

Graco Price Performance

Shares of NYSE:GGG traded down $1.18 on Thursday, reaching $77.82. 149,511 shares of the company traded hands, compared to its average volume of 862,763. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86. The company's 50 day moving average is $83.84 and its 200-day moving average is $85.26. The stock has a market capitalization of $13.08 billion, a PE ratio of 27.60, a P/E/G ratio of 2.85 and a beta of 0.92.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. As a group, analysts expect that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, April 14th. Graco's dividend payout ratio is presently 39.01%.

Graco 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.