Graco Inc. (GGG) Shares Gap Up to $73.42
Graco Inc. (NYSE:GGG) shares gapped up prior to trading on Thursday . The stock had previously closed at $73.31, but opened at $73.42. Graco shares last traded at $73.64, with a volume of 59,580 shares traded.
A number of research analysts recently commented on GGG shares. Zacks Investment Research raised Graco from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. William Blair cut Graco from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $89.00 to $78.00 in a research note on Thursday, July 21st. Finally, KeyCorp started coverage on Graco in a research note on Wednesday, May 25th. They issued a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. Graco has a consensus rating of “Hold” and an average price target of $82.13.
The firm has a market capitalization of $4.16 billion and a price-to-earnings ratio of 22.01. The stock’s 50 day moving average is $75.87 and its 200-day moving average is $78.79.
Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.11. During the same quarter in the previous year, the company earned $1.05 EPS. The firm had revenue of $348.10 million for the quarter, compared to analyst estimates of $352.49 million. Graco’s revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Graco Inc. will post $3.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 3rd. Stockholders of record on Monday, July 18th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Thursday, July 14th.
In other news, VP Charles L. Rescorla sold 22,500 shares of Graco stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $81.73, for a total transaction of $1,838,925.00. Following the transaction, the vice president now owns 83,987 shares in the company, valued at approximately $6,864,257.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
An institutional investor recently raised its position in Graco stock. Dorsey & Whitney Trust CO LLC raised its stake in Graco Inc. (NYSE:GGG) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 95,384 shares of the company’s stock after buying an additional 675 shares during the period. Graco accounts for approximately 1.8% of Dorsey & Whitney Trust CO LLC’s holdings, making the stock its 14th largest position. Dorsey & Whitney Trust CO LLC owned about 0.17% of Graco worth $6,874,000 at the end of the most recent quarter.
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, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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