Quantbot Technologies LP Sells 22,570 Shares of Graco Inc. (NYSE:GGG)

Quantbot Technologies LP decreased its stake in Graco Inc. (NYSE:GGG - Free Report) by 53.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,759 shares of the industrial products company's stock after selling 22,570 shares during the period. Quantbot Technologies LP's holdings in Graco were worth $1,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GGG. Gradient Investments LLC acquired a new stake in Graco during the second quarter worth about $27,000. UMB Bank n.a. boosted its position in shares of Graco by 187.8% during the 3rd quarter. UMB Bank n.a. now owns 495 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 323 shares in the last quarter. Blue Trust Inc. boosted its holdings in Graco by 220.9% during the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 475 shares in the last quarter. Eastern Bank acquired a new position in shares of Graco in the 3rd quarter worth approximately $59,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Graco in the 3rd quarter valued at $67,000. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Price Performance

NYSE:GGG opened at $91.08 on Friday. The business's 50-day simple moving average is $86.39 and its 200-day simple moving average is $82.95. Graco Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $94.77. The stock has a market capitalization of $15.38 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 3.13 and a beta of 0.82.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.05). Graco had a return on equity of 21.24% and a net margin of 22.87%. The firm had revenue of $519.21 million for the quarter, compared to the consensus estimate of $538.19 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. The firm's quarterly revenue was down 3.8% compared to the same quarter last year. On average, research analysts expect that Graco Inc. will post 2.89 earnings per share for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a dividend of $0.255 per share. The ex-dividend date was Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a yield of 1.12%. Graco's payout ratio is 36.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Robert W. Baird reduced their price target 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. Royal Bank of Canada decreased their price target on 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 reissued a "neutral" rating and issued a $79.00 price objective on shares of Graco in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $89.25.

Insider Transactions at Graco

In other Graco news, EVP Kathryn L. Schoenrock sold 1,527 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $90.30, for a total value of $137,888.10. Following the transaction, the executive vice president now directly owns 6,374 shares of the company's stock, valued at $575,572.20. This represents a 19.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Peter J. O'shea sold 18,075 shares of Graco stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $88.76, for a total value of $1,604,337.00. Following the sale, the insider now directly owns 14,516 shares of the company's stock, valued at $1,288,440.16. This represents a 55.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,818 shares of company stock worth $2,026,230 in the last ninety days. Insiders own 2.63% of the company's stock.

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.