Shares of Graco Inc. (NYSE:GGG) have received an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $109.00.

Several brokerages have recently issued reports on GGG. Wolfe Research reaffirmed a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. BidaskClub lowered Graco from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Royal Bank Of Canada restated a “hold” rating on shares of Graco in a report on Friday, July 28th. Finally, FBR & Co restated a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th.

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In related news, VP Karen Park Gallivan sold 12,242 shares of the stock in a transaction 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 in the company, valued at approximately $3,135,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric Etchart sold 757 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $119.20, for a total value of $90,234.40. Following the sale, the director now owns 12,464 shares in the company, valued at approximately $1,485,708.80. The disclosure for this sale can be found here. Insiders have sold a total of 67,499 shares of company stock worth $7,663,509 in the last 90 days. 5.70% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Graco by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock valued at $545,481,000 after acquiring an additional 104,725 shares during the last quarter. BlackRock Inc. grew its position in Graco by 1.0% in the 2nd quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock valued at $482,397,000 after acquiring an additional 43,669 shares during the last quarter. Fiera Capital Corp grew its position in Graco by 7.3% in the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after acquiring an additional 206,130 shares during the last quarter. State Street Corp grew its position in Graco by 3.2% in the 1st quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock valued at $137,974,000 after acquiring an additional 45,636 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Graco by 59.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock valued at $61,463,000 after acquiring an additional 244,321 shares during the last quarter. 86.82% of the stock is currently owned by institutional investors.

Graco (GGG) opened at 122.40 on Friday. Graco has a one year low of $69.33 and a one year high of $122.86. The company has a market cap of $6.85 billion, a PE ratio of 77.66 and a beta of 1.24. The stock has a 50 day moving average of $115.07 and a 200 day moving average of $107.14.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 16th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.18%. Graco’s payout ratio is presently 92.90%.

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.

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