Wells Fargo & Company MN Sells 33,007 Shares of Graco Inc. (NYSE:GGG)

Wells Fargo & Company MN decreased its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 670,281 shares of the industrial products company's stock after selling 33,007 shares during the period. Wells Fargo & Company MN owned about 0.40% of Graco worth $56,498,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in Graco during the fourth quarter valued at approximately $25,000. TD Private Client Wealth LLC lifted its stake in Graco by 118.0% during the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after purchasing an additional 190 shares during the last quarter. National Pension Service bought a new position in shares of Graco in the 4th quarter worth about $34,000. Whipplewood Advisors LLC acquired a new position in shares of Graco in the 4th quarter valued at about $37,000. Finally, Brooklyn Investment Group raised its stake in Graco by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock worth $41,000 after acquiring an additional 136 shares during the period. Institutional investors own 93.88% of the company's stock.

Analyst Ratings Changes

GGG has been the topic of several analyst reports. BNP Paribas raised Graco from a "neutral" rating to an "outperform" rating and set a $105.00 target price on the stock in a research report on Thursday, December 19th. Royal Bank of Canada boosted their target price 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 target price on shares of Graco in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $93.00.

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Graco Trading Up 1.2 %

NYSE:GGG traded up $0.94 during trading hours on Monday, hitting $80.38. 81,574 shares of the stock traded hands, compared to its average volume of 802,728. The firm has a market cap of $13.51 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 2.85 and a beta of 0.92. The firm has a 50 day moving average price of $83.65 and a 200 day moving average price of $85.16. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86.

Graco (NYSE:GGG - Get Free Report) last announced 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 return on equity of 19.38% and a net margin of 23.00%. Research analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders 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 dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, April 14th. Graco's dividend payout ratio is currently 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.