Skandinaviska Enskilda Banken AB publ Cuts Holdings in Graco Inc. (NYSE:GGG)

Skandinaviska Enskilda Banken AB publ decreased its holdings in Graco Inc. (NYSE:GGG - Free Report) by 38.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,245 shares of the industrial products company's stock after selling 119,359 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.11% of Graco worth $15,686,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Citizens Financial Group Inc. RI bought a new position in shares of Graco in the 4th quarter valued at about $232,000. Daiwa Securities Group Inc. lifted its holdings in shares of Graco by 2.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,100 shares of the industrial products company's stock valued at $1,104,000 after acquiring an additional 300 shares during the last quarter. Simplicity Wealth LLC lifted its holdings in shares of Graco by 2.6% in the 4th quarter. Simplicity Wealth LLC now owns 10,013 shares of the industrial products company's stock valued at $844,000 after acquiring an additional 258 shares during the last quarter. Dundas Partners LLP lifted its holdings in shares of Graco by 16.9% in the 4th quarter. Dundas Partners LLP now owns 7,208 shares of the industrial products company's stock valued at $608,000 after acquiring an additional 1,041 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Graco in the 4th quarter valued at about $248,000. Institutional investors own 93.88% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GGG. DA Davidson set a $85.00 price objective on shares of Graco in a research note on Friday, January 31st. BNP Paribas raised shares of Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price objective for the company in a research note on Thursday, December 19th. Finally, Royal Bank of Canada raised their price objective on shares of Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Graco currently has an average rating of "Hold" and a consensus target price of $93.00.

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Graco Price Performance

Shares of NYSE:GGG traded down $0.90 during trading on Tuesday, reaching $83.47. 677,340 shares of the company were exchanged, compared to its average volume of 802,177. The firm has a market capitalization of $14.03 billion, a PE ratio of 29.60, a P/E/G ratio of 2.85 and a beta of 0.83. The business's fifty day simple moving average is $84.89 and its 200-day simple moving average is $85.52. Graco Inc. has a 12-month low of $77.49 and a 12-month high of $94.77.

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%. On average, sell-side analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, April 14th. Graco's payout ratio is 39.01%.

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.