Graco Inc. (GGG) Director Eric Etchart Sells 759 Shares
Graco Inc. (NYSE:GGG) Director Eric Etchart sold 759 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $124.90, for a total transaction of $94,799.10. Following the sale, the director now directly owns 11,983 shares in the company, valued at $1,496,676.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Eric Etchart also recently made the following trade(s):
- On Friday, September 15th, Eric Etchart sold 757 shares of Graco stock. The shares were sold at an average price of $119.20, for a total value of $90,234.40.
Shares of Graco Inc. (GGG) opened at 124.35 on Wednesday. The firm has a market capitalization of $6.96 billion, a P/E ratio of 78.90 and a beta of 1.25. Graco Inc. has a 12 month low of $69.33 and a 12 month high of $125.32. The stock has a 50 day moving average price of $117.62 and a 200 day moving average price of $109.28.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. The firm had revenue of $379.50 million for the quarter, compared to analysts’ expectations of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. The business’s revenue 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 expect that Graco Inc. will post $4.54 earnings per share for the current 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 given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, October 13th. Graco’s payout ratio is currently 92.90%.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Graco by 2.1% in the second quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock worth $545,481,000 after acquiring an additional 104,725 shares during the last quarter. BlackRock Inc. grew its stake in shares of Graco by 1.0% in the second quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock worth $482,397,000 after purchasing an additional 43,669 shares during the last quarter. Fiera Capital Corp grew its stake in shares of Graco by 7.3% in the second quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock worth $330,196,000 after purchasing an additional 206,130 shares during the last quarter. State Street Corp grew 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 purchasing an additional 45,636 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Graco by 59.8% in the first quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock worth $61,463,000 after purchasing an additional 244,321 shares during the last quarter. Institutional investors and hedge funds own 86.82% of the company’s stock.
A number of research analysts recently commented on GGG shares. Zacks Investment Research downgraded shares of Graco from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. BidaskClub raised shares of Graco from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Robert W. Baird reaffirmed a “hold” rating and issued a $129.00 price target on shares of Graco in a research note on Wednesday. Wolfe Research reissued a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Graco in a research note on Friday, July 28th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Graco currently has an average rating of “Hold” and a consensus price target of $110.00.
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.
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