Graco Inc. (GGG) Shares Gap Up to $73.42
Graco Inc. (NYSE:GGG) 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 changing hands.
GGG has been the subject of a number of recent research reports. Zacks Investment Research raised Graco from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. William Blair lowered Graco from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $89.00 to $78.00 in a research note on Thursday, July 21st. Finally, KeyCorp initiated coverage on Graco in a research note on Wednesday, May 25th. They issued a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $82.13.
The stock has a market cap of $4.11 billion and a PE ratio of 21.75. The firm has a 50-day moving average price of $75.99 and a 200-day moving average price of $78.75.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.11. The firm earned $348.10 million during the quarter, compared to analysts’ expectations of $352.49 million. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. Analysts expect that Graco Inc. will post $3.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 3rd. Stockholders of record on Monday, July 18th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.79%.
In other news, VP Charles L. Rescorla sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $81.73, for a total transaction of $1,838,925.00. Following the completion of the transaction, the vice president now owns 83,987 shares in the company, valued at $6,864,257.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
An institutional investor recently raised its position in Graco stock. Dorsey & Whitney Trust CO LLC boosted its position in shares of Graco Inc. (NYSE:GGG) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,384 shares of the company’s stock after buying an additional 675 shares during the period. Graco accounts for about 1.8% of Dorsey & Whitney Trust CO LLC’s investment portfolio, making the stock its 14th largest position. Dorsey & Whitney Trust CO LLC owned 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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