Zurcher Kantonalbank Zurich Cantonalbank Sells 11,474 Shares of Graco Inc. (NYSE:GGG)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 14.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,716 shares of the industrial products company's stock after selling 11,474 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Graco were worth $5,792,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in Graco in the 4th quarter valued at $25,000. Brooklyn Investment Group bought a new position in shares of Graco during the third quarter valued at $30,000. National Pension Service acquired a new stake in shares of Graco in the 4th quarter valued at $34,000. Whipplewood Advisors LLC acquired a new stake in shares of Graco in the 4th quarter valued at $37,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Graco in the 4th quarter worth about $61,000. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Trading Down 1.1 %

Shares of GGG traded down $0.90 during trading hours on Tuesday, hitting $83.47. 677,340 shares of the stock traded hands, compared to its average volume of 726,583. The business has a fifty day moving average of $84.89 and a 200-day moving average of $85.52. The firm has a market capitalization of $14.03 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. Graco Inc. has a 1-year low of $77.49 and a 1-year high of $94.77.

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

Graco Announces Dividend

The company also recently declared 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. The ex-dividend date is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.32%. Graco's dividend payout ratio is 39.01%.

Analyst Upgrades and Downgrades

GGG has been the subject of several research analyst reports. 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 Graco from $93.00 to $97.00 and gave the company 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 report 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's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.