Hsbc Holdings PLC Boosts Stock Position in Graco Inc. $GGG

Hsbc Holdings PLC boosted its stake in shares of Graco Inc. (NYSE:GGG) by 29.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 786,697 shares of the industrial products company’s stock after buying an additional 176,739 shares during the period. Hsbc Holdings PLC’s holdings in Graco were worth $64,492,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its stake in shares of Graco by 0.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock worth $1,745,000 after acquiring an additional 109 shares during the last quarter. Stonebridge Capital Advisors LLC raised its position in shares of Graco by 0.3% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after purchasing an additional 119 shares during the last quarter. Fifth Third Bancorp boosted its stake in Graco by 7.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 125 shares in the last quarter. ICW Investment Advisors LLC boosted its stake in Graco by 5.2% in the 2nd quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company’s stock worth $234,000 after purchasing an additional 135 shares in the last quarter. Finally, Viawealth LLC grew its position in Graco by 0.3% during the 3rd quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock valued at $4,519,000 after purchasing an additional 137 shares during the last quarter. 93.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GGG. DA Davidson restated a “neutral” rating and set a $85.00 price objective on shares of Graco in a research note on Monday, April 27th. Robert W. Baird cut their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Graco in a research report on Friday, April 24th. Finally, Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $94.25.

Insider Transactions at Graco

In related news, Director Andrea Helen Simon bought 1,240 shares of the business’s stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, with a total value of $99,857.20. Following the transaction, the director owned 1,240 shares in the company, valued at approximately $99,857.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.18% of the company’s stock.

Graco Price Performance

Graco stock opened at $75.54 on Tuesday. Graco Inc. has a one year low of $73.26 and a one year high of $95.69. The business’s fifty day moving average is $78.35 and its 200 day moving average is $84.01. The stock has a market capitalization of $12.54 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 2.45 and a beta of 0.93.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The company had revenue of $540.14 million for the quarter, compared to analysts’ expectations of $561.35 million. During the same period in the previous year, the business earned $0.70 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Graco Inc. will post 3.1 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be issued a $0.295 dividend. The ex-dividend date is Monday, July 20th. This represents a $1.18 annualized dividend and a yield of 1.6%. Graco’s dividend payout ratio (DPR) is currently 38.44%.

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.