Graco Inc. (NYSE:GGG) Receives Average Recommendation of “Hold” from Analysts

Graco Inc. (NYSE:GGG) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $94.25.

GGG has been the subject of several analyst reports. DA Davidson reiterated a “neutral” rating and set a $85.00 price target on shares of Graco in a report on Monday, April 27th. Weiss Ratings cut shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Robert W. Baird lowered their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. KeyCorp reissued a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Graco in a research note on Friday, April 24th.

Graco Stock Performance

Shares of GGG opened at $77.13 on Friday. Graco has a 1 year low of $76.88 and a 1 year high of $95.69. The stock has a market capitalization of $12.80 billion, a PE ratio of 25.12, a PEG ratio of 2.47 and a beta of 0.96. The stock has a 50-day simple moving average of $85.06 and a 200-day simple moving average of $85.28.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The firm had revenue of $540.14 million for the quarter, compared to analysts’ expectations of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share. Analysts predict that Graco will post 3.13 EPS for the current year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th were given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, April 13th. Graco’s dividend payout ratio (DPR) is 38.44%.

Insiders Place Their Bets

In other Graco news, Director Andrea Helen Simon bought 1,240 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the purchase, the director directly owned 1,240 shares in the company, valued at $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Graco

Hedge funds have recently added to or reduced their stakes in the stock. AE Wealth Management LLC boosted its stake in Graco by 32.7% in the fourth quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock valued at $32,652,000 after acquiring an additional 98,141 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Graco by 432.6% during the third quarter. Nordea Investment Management AB now owns 85,654 shares of the industrial products company’s stock worth $7,263,000 after purchasing an additional 69,573 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Graco by 154.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 64,341 shares of the industrial products company’s stock valued at $5,466,000 after purchasing an additional 39,031 shares during the last quarter. Raiffeisen Bank International AG boosted its position in shares of Graco by 191.8% in the 3rd quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company’s stock valued at $744,000 after purchasing an additional 5,790 shares during the period. Finally, Swiss Life Asset Management Ltd boosted its position in shares of Graco by 40.5% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock valued at $3,869,000 after purchasing an additional 13,130 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

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.