Graco Inc. (NYSE:GGG) Stock Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,328,179 shares of the industrial products company's stock after acquiring an additional 337,437 shares during the quarter. Principal Financial Group Inc. owned about 1.38% of Graco worth $196,242,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Institute for Wealth Management LLC. increased its position in Graco by 2.5% during the fourth quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company's stock worth $410,000 after purchasing an additional 119 shares during the last quarter. Albert D Mason Inc. grew its stake in shares of Graco by 0.4% during the 4th quarter. Albert D Mason Inc. now owns 27,923 shares of the industrial products company's stock valued at $2,354,000 after buying an additional 121 shares during the period. Ballentine Partners LLC increased its holdings in shares of Graco by 3.1% during the 3rd quarter. Ballentine Partners LLC now owns 4,222 shares of the industrial products company's stock worth $369,000 after buying an additional 128 shares during the last quarter. Optas LLC boosted its holdings in Graco by 4.0% in the fourth quarter. Optas LLC now owns 3,360 shares of the industrial products company's stock valued at $283,000 after acquiring an additional 128 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in Graco by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock worth $41,000 after acquiring an additional 136 shares during the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Graco Stock Down 1.4 %

Shares of Graco stock traded down $1.18 on Friday, hitting $86.07. 871,301 shares of the company's stock traded hands, compared to its average volume of 770,385. Graco Inc. has a 52-week low of $77.49 and a 52-week high of $94.77. The stock has a market cap of $14.59 billion, a P/E ratio of 30.52, a PEG ratio of 2.85 and a beta of 0.84. The firm's 50-day moving average is $84.62 and its 200 day moving average is $84.95.

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

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.28%. Graco's dividend payout ratio (DPR) is 39.01%.

Insider Activity at Graco

In other news, insider Caroline M. Chambers sold 8,280 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $90.57, for a total value of $749,919.60. Following the transaction, the insider now directly owns 57,612 shares in the company, valued at approximately $5,217,918.84. This trade represents a 12.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of Graco stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $90.30, for a total transaction of $137,888.10. Following the completion of the transaction, the executive vice president now directly owns 6,374 shares of the company's stock, valued at $575,572.20. This trade represents a 19.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BNP Paribas raised shares of Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price target on the stock in a research report on Thursday, December 19th. Royal Bank of Canada boosted their price target on Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Finally, Robert W. Baird reduced their target price on shares of Graco from $88.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $91.50.

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.