Private Wealth Partners LLC Acquires New Holdings in Graco Inc. (NYSE:GGG)

Private Wealth Partners LLC bought a new stake in Graco Inc. (NYSE:GGG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,010 shares of the industrial products company's stock, valued at approximately $876,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Gradient Investments LLC acquired a new stake in Graco in the second quarter valued at $27,000. New Covenant Trust Company N.A. bought a new position in shares of Graco during the first quarter worth about $43,000. UMB Bank n.a. grew its position in Graco by 187.8% in the 3rd quarter. UMB Bank n.a. now owns 495 shares of the industrial products company's stock valued at $43,000 after buying an additional 323 shares in the last quarter. Blue Trust Inc. grew its position in Graco by 220.9% in the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company's stock valued at $55,000 after buying an additional 475 shares in the last quarter. Finally, Tobam grew its position in Graco by 90.2% in the 1st quarter. Tobam now owns 601 shares of the industrial products company's stock valued at $56,000 after buying an additional 285 shares in the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GGG. Robert W. Baird cut their price target on shares of Graco from $88.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Royal Bank of Canada lowered their price objective on shares of Graco from $96.00 to $93.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Finally, DA Davidson reiterated a "neutral" rating and set a $79.00 price target on shares of Graco in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.25.

Graco Price Performance

Shares of NYSE GGG traded up $1.07 during trading hours on Friday, hitting $82.52. 671,534 shares of the stock were exchanged, compared to its average volume of 642,879. The firm has a market capitalization of $13.93 billion, a P/E ratio of 29.16, a P/E/G ratio of 2.79 and a beta of 0.82. Graco Inc. has a one year low of $74.79 and a one year high of $94.77. The company's 50 day moving average is $83.97 and its 200 day moving average is $82.35.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). Graco had a return on equity of 21.24% and a net margin of 22.87%. The business had revenue of $519.21 million during the quarter, compared to the consensus estimate of $538.19 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The business's quarterly revenue was down 3.8% on a year-over-year basis. Research analysts anticipate that Graco Inc. will post 2.92 earnings per share for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be given a $0.255 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.24%. Graco's dividend payout ratio is currently 36.04%.

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.