Graco (NYSE:GGG) Insider Sells $133,238.30 in Stock

Graco Inc. (NYSE:GGG) insider Timothy White sold 1,469 shares of Graco stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $90.70, for a total transaction of $133,238.30. Following the transaction, the insider owned 51,430 shares in the company, valued at approximately $4,664,701. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Graco Trading Up 0.9%

NYSE GGG opened at $92.38 on Friday. The firm has a market capitalization of $15.32 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.88 and a beta of 1.08. The business’s 50-day moving average price is $84.89 and its two-hundred day moving average price is $84.07. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.84.

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

Graco Increases Dividend

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

Graco declared that its Board of Directors has authorized a share repurchase program on Friday, December 5th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Graco

A number of institutional investors have recently modified their holdings of the company. Root Financial Partners LLC bought a new position in shares of Graco in the third quarter valued at $29,000. NewSquare Capital LLC lifted its position in Graco by 320.7% in the 2nd quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 263 shares in the last quarter. CX Institutional boosted its stake in 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 purchasing an additional 361 shares during the last quarter. Assetmark Inc. increased its holdings in Graco by 42.6% during the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 139 shares in the last quarter. Finally, Field & Main Bank purchased a new stake in shares of Graco in the fourth quarter worth approximately $41,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Robert W. Baird set a $96.00 price objective on Graco in a research report on Wednesday, January 28th. KeyCorp reiterated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Graco in a research note on Thursday, January 22nd. Royal Bank Of Canada raised their price objective on shares of Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Finally, DA Davidson reiterated a “neutral” rating and set a $85.00 target price on shares of Graco in a research report on Monday. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Graco has an average rating of “Hold” and a consensus price target of $96.50.

Graco Company Profile

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.