Graco Inc. (NYSE:GGG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Graco Inc. (NYSE:GGG) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $93.50.

A number of research analysts have recently weighed in on GGG shares. Wolfe Research cut Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a $92.00 target price (down from $95.00) on shares of Graco in a report on Thursday, July 16th. Robert W. Baird decreased their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. DA Davidson reaffirmed a “neutral” rating and set a $85.00 price target on shares of Graco in a report on Monday, April 27th. Finally, Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th.

Graco Price Performance

Shares of Graco stock opened at $73.19 on Wednesday. The stock has a market capitalization of $12.15 billion, a PE ratio of 23.84, a P/E/G ratio of 2.37 and a beta of 0.93. The company’s fifty day simple moving average is $75.03 and its 200-day simple moving average is $82.77. Graco has a 1-year low of $72.51 and a 1-year high of $95.69.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The company had revenue of $540.14 million during the quarter, compared to analysts’ expectations of $561.35 million. During the same quarter in the previous year, the company earned $0.70 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Graco will post 3.1 EPS for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a dividend of $0.295 per share. The ex-dividend date is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.6%. Graco’s payout ratio is 38.44%.

Insiders Place Their Bets

In other Graco news, Director Andrea Helen Simon purchased 1,240 shares of the business’s stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.18% of the company’s stock.

Hedge Funds Weigh In On Graco

Several large investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV grew its stake in Graco by 0.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock valued at $1,745,000 after purchasing an additional 109 shares during the last quarter. Stonebridge Capital Advisors LLC increased its holdings in shares of Graco by 0.3% in the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after purchasing an additional 119 shares during the period. ICW Investment Advisors LLC raised its stake in shares of Graco by 5.2% in the second quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company’s stock worth $234,000 after purchasing an additional 135 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Graco by 5.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 139 shares during the last quarter. Finally, Root Financial Partners LLC lifted its holdings in shares of Graco by 43.2% during the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 152 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.