Zacks Investment Research upgraded shares of Graco Inc. (NYSE:GGG) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $94.00 price objective on the stock.
According to Zacks, “Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial settings. Based in Minneapolis, Minnesota, Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. It designs, manu-factures and markets systems and equipment to move, measure, control, dispense and apply fluid materials. The Company helps customers solve difficult manufacturing problems, increase productivity, improve quality, conserve energy, and save expensive materials. “
Separately, RBC Capital Markets reissued a hold rating and set a $80.00 price objective on shares of Graco in a report on Thursday, January 5th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Graco has an average rating of Hold and an average target price of $83.67.
Graco (NYSE:GGG) traded up 0.65% during mid-day trading on Tuesday, hitting $85.81. 221,284 shares of the company traded hands. The company’s 50-day moving average price is $83.40 and its 200 day moving average price is $77.24. Graco has a one year low of $63.05 and a one year high of $86.62. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 24.59 and a beta of 1.31.
Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.06. The firm earned $327.20 million during the quarter, compared to analysts’ expectations of $331.66 million. Graco had a return on equity of 29.75% and a net margin of 15.20%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. On average, analysts anticipate that Graco will post $3.40 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 17th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, January 12th. This is a boost from Graco’s previous quarterly dividend of $0.33. Graco’s dividend payout ratio is 37.93%.
In related news, VP Karen Park Gallivan sold 10,000 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $80.00, for a total value of $800,000.00. Following the sale, the vice president now owns 19,868 shares in the company, valued at approximately $1,589,440. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William J. Carroll sold 3,600 shares of the stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $81.37, for a total value of $292,932.00. Following the completion of the sale, the director now owns 25,703 shares in the company, valued at approximately $2,091,453.11. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of GGG. Financial Engines Advisors L.L.C. boosted its stake in Graco by 0.3% in the third quarter. Financial Engines Advisors L.L.C. now owns 5,546 shares of the company’s stock worth $410,000 after buying an additional 18 shares during the period. Raymond James Trust N.A. boosted its stake in Graco by 0.7% in the third quarter. Raymond James Trust N.A. now owns 2,894 shares of the company’s stock worth $214,000 after buying an additional 19 shares during the period. Hsbc Holdings PLC boosted its stake in Graco by 1.4% in the second quarter. Hsbc Holdings PLC now owns 2,675 shares of the company’s stock worth $211,000 after buying an additional 36 shares during the period. Creative Planning boosted its stake in Graco by 4.4% in the third quarter. Creative Planning now owns 1,413 shares of the company’s stock worth $105,000 after buying an additional 59 shares during the period. Finally, Carlson Capital Management boosted its stake in Graco by 1.0% in the third quarter. Carlson Capital Management now owns 6,318 shares of the company’s stock worth $468,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 87.33% of the company’s stock.
Graco Company Profile
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Contractor, and Lubrication. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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