Bank of Montreal Can raised its stake in Graco Inc. (NYSE:GGG) by 40.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 95,281 shares of the industrial products company’s stock after buying an additional 27,276 shares during the period. Bank of Montreal Can owned approximately 0.17% of Graco worth $10,412,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted 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 valued at $460,049,000 after buying an additional 309,685 shares during the last quarter. BlackRock Inc. raised its position in Graco by 13,639.9% in the first quarter. BlackRock Inc. now owns 4,370,674 shares of the industrial products company’s stock valued at $411,455,000 after buying an additional 4,338,864 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in 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 valued at $190,600,000 after buying an additional 46,205 shares during the period. State Street Corp raised its position in Graco by 3.2% in the first quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock valued at $137,974,000 after buying an additional 45,636 shares during the period. Finally, Bank of New York Mellon Corp raised its position in 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 valued at $88,531,000 after buying an additional 251,447 shares during the period. 90.10% of the stock is owned by hedge funds and other institutional investors.

Shares of Graco Inc. (NYSE:GGG) traded down 0.90% on Friday, reaching $112.37. 162,979 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $111.29 and a 200 day moving average of $103.25. The firm has a market capitalization of $6.29 billion, a P/E ratio of 71.30 and a beta of 1.25. Graco Inc. has a one year low of $69.33 and a one year high of $116.75.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.32. The business had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. On average, equities research analysts predict that Graco Inc. will post $4.53 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, July 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.28%. Graco’s dividend payout ratio is presently 92.90%.

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GGG has been the subject of several recent analyst reports. TheStreet upgraded shares of Graco from a “c+” rating to a “b+” rating in a research note on Thursday, April 27th. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research note on Monday, July 31st. BidaskClub lowered shares of Graco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Deutsche Bank AG reiterated a “hold” rating and set a $110.00 price objective (up previously from $105.00) on shares of Graco in a research note on Monday, June 5th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $104.00 price objective on shares of Graco in a research note on Monday, June 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Graco has an average rating of “Hold” and an average target price of $106.20.

In other news, Director Eric Etchart sold 793 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $113.90, for a total transaction of $90,322.70. Following the completion of the sale, the director now owns 11,224 shares in the company, valued at approximately $1,278,413.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Karen Park Gallivan sold 12,242 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following 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. Insiders have sold a total of 119,021 shares of company stock valued at $6,483,384 in the last 90 days. Insiders own 5.70% of the company’s stock.

About Graco

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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