Whittier Trust Co. Has $15.58 Million Position in Graco Inc. (NYSE:GGG)

Whittier Trust Co. increased its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 178,062 shares of the industrial products company's stock after acquiring an additional 7,093 shares during the quarter. Whittier Trust Co. owned about 0.11% of Graco worth $15,582,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gradient Investments LLC bought a new position in shares of Graco during the second quarter worth $27,000. New Covenant Trust Company N.A. bought a new position in Graco during the first quarter worth about $43,000. UMB Bank n.a. lifted its holdings in Graco by 187.8% during the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company's stock worth $43,000 after acquiring an additional 323 shares in the last quarter. Tobam grew its stake in Graco by 90.2% in the first quarter. Tobam now owns 601 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 285 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Graco by 220.9% in the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company's stock worth $55,000 after acquiring an additional 475 shares in the last quarter. Institutional investors own 93.88% of the company's stock.

Wall Street Analysts Forecast Growth

GGG has been the subject of several research analyst reports. Robert W. Baird decreased their price objective on Graco from $87.00 to $86.00 and set a "neutral" rating for the company in a research report on Friday, July 26th. DA Davidson reiterated a "neutral" rating and issued a $79.00 price target on shares of Graco in a report on Friday, September 27th. Finally, Royal Bank of Canada dropped their price objective on shares of Graco from $99.00 to $96.00 and set an "outperform" rating on the stock in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $90.25.

Graco Price Performance

NYSE:GGG traded down $0.87 during trading hours on Monday, reaching $85.05. 543,563 shares of the stock were exchanged, compared to its average volume of 729,003. Graco Inc. has a twelve month low of $69.78 and a twelve month high of $94.77. The stock has a market cap of $14.39 billion, a PE ratio of 29.32, a PEG ratio of 2.88 and a beta of 0.81. The firm has a 50 day moving average of $83.64 and a 200 day moving average of $82.89.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.01. Graco had a net margin of 23.16% and a return on equity of 22.40%. The business had revenue of $553.20 million during the quarter, compared to the consensus estimate of $562.27 million. During the same quarter last year, the firm earned $0.75 earnings per share. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Graco Inc. will post 2.98 earnings per share for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.02 annualized dividend and a yield of 1.20%. Graco's dividend payout ratio (DPR) is presently 35.17%.

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.