Graco Inc. (NYSE:GGG) Shares Sold by WealthPLAN Partners LLC

WealthPLAN Partners LLC trimmed its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 28.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,693 shares of the industrial products company's stock after selling 28,317 shares during the quarter. WealthPLAN Partners LLC's holdings in Graco were worth $6,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Forsta AP Fonden raised its holdings in Graco by 153.3% in the 1st quarter. Forsta AP Fonden now owns 76,000 shares of the industrial products company's stock worth $7,103,000 after purchasing an additional 46,000 shares during the period. SG Americas Securities LLC raised its holdings in Graco by 1,010.8% in the 1st quarter. SG Americas Securities LLC now owns 55,886 shares of the industrial products company's stock worth $5,223,000 after purchasing an additional 50,855 shares during the period. Quantbot Technologies LP raised its holdings in Graco by 114.1% in the 1st quarter. Quantbot Technologies LP now owns 8,288 shares of the industrial products company's stock worth $775,000 after purchasing an additional 4,417 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Graco by 9.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,950 shares of the industrial products company's stock worth $463,000 after purchasing an additional 441 shares during the period. Finally, Duality Advisers LP bought a new position in Graco in the 1st quarter worth $1,007,000. 93.88% of the stock is owned by institutional investors.

Graco Price Performance

Shares of Graco stock traded up $0.86 during trading on Friday, reaching $81.20. 606,865 shares of the stock traded hands, compared to its average volume of 783,031. Graco Inc. has a 52-week low of $69.78 and a 52-week high of $94.77. The business has a fifty day simple moving average of $80.48 and a two-hundred day simple moving average of $85.56. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.67 and a beta of 0.82.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.09). Graco had a net margin of 23.15% and a return on equity of 23.01%. The business had revenue of $492.19 million during the quarter, compared to the consensus estimate of $536.19 million. During the same period in the previous year, the business posted $0.74 EPS. The firm's revenue was down 7.1% on a year-over-year basis. On average, research analysts predict that Graco Inc. will post 3.05 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Monday, July 22nd. Graco's payout ratio is currently 35.17%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $103.00 target price on shares of Graco in a report on Thursday, June 27th. StockNews.com lowered Graco from a "buy" rating to a "hold" rating in a research note on Wednesday, June 12th. William Blair reiterated a "market perform" rating on shares of Graco in a research note on Friday, April 26th. Finally, Robert W. Baird cut their price target on Graco from $90.00 to $87.00 and set a "neutral" rating for the company in a research note on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Graco presently has an average rating of "Hold" and a consensus target price of $90.75.

About Graco

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.