Jane Street Group LLC acquired a new position in Graco Inc. (NYSE:GGG) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,497 shares of the industrial products company’s stock, valued at approximately $235,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Graco by 6.8% in the first quarter. Vanguard Group Inc. now owns 4,886,860 shares of the industrial products company’s stock worth $460,049,000 after buying an additional 309,685 shares during the last quarter. BlackRock Inc. increased its stake in shares of Graco by 13,639.9% in the first quarter. BlackRock Inc. now owns 4,370,674 shares of the industrial products company’s stock worth $411,455,000 after buying an additional 4,338,864 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Graco by 2.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,024,638 shares of the industrial products company’s stock worth $190,600,000 after buying an additional 46,205 shares during the last quarter. State Street Corp increased its stake in shares of Graco by 3.2% in the first quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock worth $137,974,000 after buying an additional 45,636 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Graco by 36.5% in the first quarter. Bank of New York Mellon Corp now owns 940,408 shares of the industrial products company’s stock worth $88,531,000 after buying an additional 251,447 shares during the last quarter. 90.97% of the stock is owned by hedge funds and other institutional investors.

Shares of Graco Inc. (GGG) traded up 0.91% during trading on Friday, hitting $114.65. The stock had a trading volume of 213,628 shares. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 72.75 and a beta of 1.25. Graco Inc. has a 12-month low of $69.33 and a 12-month high of $116.75. The stock has a 50-day moving average of $110.30 and a 200 day moving average of $101.08.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The company had revenue of $379.50 million during the quarter, compared to analyst estimates of $369.36 million. During the same period in the prior year, the firm posted $0.89 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. On average, analysts predict that Graco Inc. will post $4.52 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.26%. Graco’s dividend payout ratio (DPR) is currently 92.90%.

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Several equities analysts have weighed in on GGG shares. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research report on Monday. TheStreet raised Graco from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. Wolfe Research raised Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 target price for the company in a research report on Monday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $104.00 target price on shares of Graco in a research report on Friday, April 28th. Finally, FBR & Co reaffirmed a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $106.20.

In other news, VP Peter J. O’shea sold 15,986 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $113.50, for a total value of $1,814,411.00. Following the completion of the sale, the vice president now owns 20,638 shares in the company, valued at $2,342,413. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Karen Park Gallivan sold 12,242 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $1,407,830.00. Following the completion of the sale, the vice president now owns 27,264 shares of the company’s stock, valued at approximately $3,135,360. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,021 shares of company stock valued at $10,331,434. Insiders own 5.70% of the company’s stock.

Graco Company Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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