Insider Selling: Graco (NYSE:GGG) Director Sells 12,870 Shares of Stock

Graco Inc. (NYSE:GGG) Director J Kevin Gilligan sold 12,870 shares of Graco stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total value of $1,146,330.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Graco Stock Performance

Shares of NYSE GGG opened at $90.26 on Wednesday. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $89.70. The company has a market cap of $14.96 billion, a PE ratio of 28.81, a P/E/G ratio of 2.78 and a beta of 1.08. The firm’s 50 day moving average price is $84.50 and its 200-day moving average price is $83.95.

Graco (NYSE:GGG) last announced its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The firm had revenue of $593.16 million for the quarter, compared to the consensus estimate of $591.99 million. During the same period in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts forecast that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Monday, January 19th will be paid a $0.295 dividend. This is a boost from Graco’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, January 16th. This represents a $1.18 annualized dividend and a dividend yield of 1.3%. Graco’s dividend payout ratio (DPR) is currently 38.19%.

Graco declared that its board has initiated a share repurchase program on Friday, December 5th that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Graco

Hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC purchased a new position in Graco in the third quarter worth $29,000. NewSquare Capital LLC boosted its holdings in Graco by 320.7% during the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after buying an additional 263 shares in the last quarter. CX Institutional lifted its position in shares of Graco by 316.7% during the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after buying an additional 361 shares in the last quarter. Assetmark Inc. grew its stake in Graco by 42.6% in the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 139 shares during the period. Finally, Field & Main Bank purchased a new stake in Graco during the 4th quarter worth approximately $41,000. Institutional investors own 93.88% of the company’s stock.

Analysts Set New Price Targets

GGG has been the topic of several analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. DA Davidson reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Graco in a research report on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of Graco in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their price objective on shares of Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Finally, Jefferies Financial Group increased their price objective on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Graco presently has an average rating of “Hold” and an average price target of $96.50.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.