Graco Inc. (NYSE:GGG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in Graco Inc. (NYSE:GGG - Free Report) by 14.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,782,371 shares of the industrial products company's stock after selling 304,144 shares during the period. Wellington Management Group LLP owned about 1.06% of Graco worth $150,236,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Graco in the fourth quarter valued at approximately $177,434,000. Principal Financial Group Inc. grew its holdings in Graco by 244.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,990,742 shares of the industrial products company's stock valued at $174,210,000 after buying an additional 1,412,704 shares during the last quarter. Canoe Financial LP increased its position in Graco by 359.2% during the fourth quarter. Canoe Financial LP now owns 640,474 shares of the industrial products company's stock worth $53,986,000 after buying an additional 501,003 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in shares of Graco in the fourth quarter worth $38,199,000. Finally, State Street Corp lifted its position in shares of Graco by 6.3% in the third quarter. State Street Corp now owns 7,458,988 shares of the industrial products company's stock valued at $652,736,000 after acquiring an additional 443,141 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Trading Down 1.8 %

Shares of NYSE GGG traded down $1.36 on Monday, reaching $74.41. 1,687,213 shares of the company traded hands, compared to its average volume of 791,530. The stock has a market capitalization of $12.51 billion, a PE ratio of 26.39, a P/E/G ratio of 2.85 and a beta of 0.92. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $93.01. The company has a 50 day moving average of $84.39 and a 200 day moving average of $85.50.

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Graco (NYSE:GGG - Get Free Report) last released its earnings results 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 return on equity of 19.38% and a net margin of 23.00%. As a group, research analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Monday, April 14th. Graco's dividend payout ratio (DPR) is currently 39.01%.

Analyst Upgrades and Downgrades

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

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.