Petros Family Wealth LLC Purchases Shares of 6,332 Graco Inc. (NYSE:GGG)

Petros Family Wealth LLC purchased a new position in shares of Graco Inc. (NYSE:GGG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,332 shares of the industrial products company's stock, valued at approximately $534,000.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Graco by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 17,141,579 shares of the industrial products company's stock worth $1,444,864,000 after acquiring an additional 183,335 shares during the period. Geode Capital Management LLC increased its position in Graco by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,229,385 shares of the industrial products company's stock worth $356,053,000 after purchasing an additional 77,093 shares during the period. PineStone Asset Management Inc. raised its stake in shares of Graco by 2.7% during the 4th quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company's stock worth $244,836,000 after buying an additional 76,184 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Graco by 17.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,328,179 shares of the industrial products company's stock valued at $196,242,000 after buying an additional 337,437 shares during the period. Finally, Norges Bank acquired a new stake in shares of Graco in the 4th quarter valued at approximately $177,434,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GGG shares. Royal Bank of Canada increased their price objective on Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. DA Davidson set a $85.00 price objective on shares of Graco in a research note on Friday, January 31st. Finally, BNP Paribas upgraded shares of 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $93.00.

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Graco Stock Down 0.9 %

Shares of Graco stock traded down $0.69 during trading on Wednesday, hitting $78.53. 843,092 shares of the company were exchanged, compared to its average volume of 808,219. The firm has a 50 day moving average price of $83.45 and a 200 day moving average price of $85.06. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 2.85 and a beta of 0.92. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. Analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Monday, April 14th. Graco's payout ratio is 39.01%.

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.