Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,664 shares of the industrial products company's stock after selling 19,442 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.14% of Graco worth $19,780,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cerity Partners LLC raised its holdings in shares of Graco by 93.5% in the 3rd quarter. Cerity Partners LLC now owns 13,380 shares of the industrial products company's stock worth $1,171,000 after purchasing an additional 6,464 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Graco by 10.3% in the third quarter. Daiwa Securities Group Inc. now owns 12,800 shares of the industrial products company's stock worth $1,120,000 after buying an additional 1,200 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Graco by 194.0% in the third quarter. Bank of Montreal Can now owns 220,661 shares of the industrial products company's stock valued at $19,339,000 after buying an additional 145,599 shares in the last quarter. Dai ichi Life Insurance Company Ltd acquired a new stake in shares of Graco during the 3rd quarter valued at $1,850,000. Finally, FMR LLC boosted its stake in shares of Graco by 33.7% during the 3rd quarter. FMR LLC now owns 32,418 shares of the industrial products company's stock worth $2,837,000 after acquiring an additional 8,166 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.
Graco Price Performance
Graco stock traded up $0.87 during mid-day trading on Tuesday, hitting $84.38. The company's stock had a trading volume of 784,990 shares, compared to its average volume of 779,668. Graco Inc. has a 52-week low of $77.49 and a 52-week high of $93.01. The company has a market cap of $14.19 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. The firm's 50 day moving average is $84.96 and its 200 day moving average is $85.66.
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 (EPS) 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%. As a group, analysts forecast that Graco Inc. will post 3.06 EPS for the current year.
Graco Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders 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 dividend yield of 1.30%. The ex-dividend date is Monday, April 14th. Graco's dividend payout ratio (DPR) is currently 39.01%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on GGG shares. BNP Paribas raised Graco from a "neutral" rating to an "outperform" rating and set a $105.00 target price on the stock in a research report on Thursday, December 19th. Royal Bank of Canada upped their price objective on shares of 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 target price on shares of Graco in a research report on Friday, January 31st. 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.com, the stock has an average rating of "Hold" and an average price target of $93.00.
Get Our Latest Analysis on Graco
Graco Company 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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