Victory Capital Management Inc. Sells 4,809 Shares of Graco Inc. (NYSE:GGG)

Victory Capital Management Inc. decreased its holdings in Graco Inc. (NYSE:GGG - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 138,109 shares of the industrial products company's stock after selling 4,809 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Graco worth $11,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its position in Graco by 6.3% in the 3rd quarter. State Street Corp now owns 7,458,988 shares of the industrial products company's stock worth $652,736,000 after purchasing an additional 443,141 shares during the period. Geode Capital Management LLC grew its holdings in shares of Graco by 4.8% in the third quarter. Geode Capital Management LLC now owns 4,152,292 shares of the industrial products company's stock worth $362,808,000 after acquiring an additional 188,579 shares during the period. PineStone Asset Management Inc. lifted its stake in shares of Graco by 2.7% in 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 purchasing an additional 76,184 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Graco by 17.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,328,179 shares of the industrial products company's stock worth $196,242,000 after acquiring an additional 337,437 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Graco by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,664,427 shares of the industrial products company's stock valued at $140,295,000 after purchasing an additional 70,927 shares in the last quarter. Institutional investors own 93.88% of the company's stock.

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Analyst Ratings Changes

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

Graco Stock Up 0.5 %

NYSE GGG traded up $0.44 during trading on Monday, hitting $84.33. 559,812 shares of the stock traded hands, compared to its average volume of 726,909. The company has a market capitalization of $14.18 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. Graco Inc. has a 12-month low of $77.49 and a 12-month high of $94.77. The firm has a 50-day simple moving average of $84.87 and a 200-day simple moving average of $85.51.

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 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%. As a group, research analysts predict that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.30%. The ex-dividend date is Monday, April 14th. Graco's dividend payout ratio (DPR) is presently 39.01%.

Graco Company 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.