Graco Inc. (GGG) Receives Average Rating of “Hold” from Analysts
Graco Inc. (NYSE:GGG) has received a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $114.00.
Several research firms have recently weighed in on GGG. Robert W. Baird restated a “hold” rating and set a $129.00 price objective on shares of Graco in a research report on Wednesday, October 4th. BidaskClub lowered shares of Graco from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Wolfe Research restated a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. 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 report on Monday, July 31st. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Graco in a report on Friday, July 28th.
In other news, insider David M. Lowe sold 30,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $115.50, for a total value of $3,465,000.00. Following the completion of the sale, the insider now directly owns 164,809 shares of the company’s stock, valued at approximately $19,035,439.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric Etchart sold 757 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $119.20, for a total value of $90,234.40. Following the completion of the sale, the director now directly owns 12,464 shares of the company’s stock, valued at $1,485,708.80. The disclosure for this sale can be found here. Insiders have sold a total of 66,258 shares of company stock valued at $7,758,089 over the last three months. Company insiders own 5.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in GGG. BlackRock Inc. increased its stake in shares of Graco by 13,639.9% in the 1st quarter. BlackRock Inc. now owns 4,370,674 shares of the industrial products company’s stock valued at $411,455,000 after acquiring an additional 4,338,864 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Graco in the 2nd quarter valued at about $582,000. Vanguard Group Inc. increased its stake in shares of Graco by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 4,886,860 shares of the industrial products company’s stock valued at $460,049,000 after acquiring an additional 309,685 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Graco in the 2nd quarter valued at about $33,167,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of 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. 86.81% of the stock is owned by institutional investors.
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Shares of Graco (NYSE:GGG) opened at 126.80 on Thursday. Graco has a one year low of $72.88 and a one year high of $127.24. The stock has a market cap of $7.10 billion, a P/E ratio of 80.46 and a beta of 1.25. The firm has a 50 day moving average of $121.27 and a 200 day moving average of $111.67.
Graco (NYSE:GGG) last posted its quarterly earnings data 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. Graco had a net margin of 6.50% and a return on equity of 40.21%. The company had revenue of $379.50 million during the quarter, compared to analyst estimates of $369.36 million. During the same quarter last year, the firm posted $0.89 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities research analysts predict that Graco will post $4.54 EPS for the current fiscal year.
The firm 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 $0.36 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.14%. Graco’s dividend payout ratio is 92.90%.
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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