Graco Inc. (NYSE:GGG) Stock Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in Graco Inc. (NYSE:GGG - Free Report) by 17.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 202,020 shares of the industrial products company's stock after selling 41,573 shares during the period. Thrivent Financial for Lutherans owned about 0.12% of Graco worth $17,039,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new position in Graco in the fourth quarter worth about $25,000. Brooklyn Investment Group bought a new stake in shares of Graco in the 3rd quarter worth approximately $30,000. National Pension Service acquired a new stake in Graco in the fourth quarter worth $34,000. Whipplewood Advisors LLC acquired a new stake in Graco in the fourth quarter worth $37,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Graco in the fourth quarter valued at $61,000. Institutional investors own 93.88% of the company's stock.

Analyst Upgrades and Downgrades

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

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Graco Stock Up 0.5 %

Graco stock traded up $0.38 during trading hours on Tuesday, hitting $84.24. 640,755 shares of the company traded hands, compared to its average volume of 737,074. Graco Inc. has a 1-year low of $77.49 and a 1-year high of $94.47. The firm has a market cap of $14.16 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.85 and a beta of 0.83. The firm's 50-day simple moving average is $85.06 and its two-hundred day simple moving average is $85.59.

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%. On average, equities research 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. Stockholders of record on Monday, April 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Monday, April 14th. Graco's dividend payout ratio is presently 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.