Charles L. Rescorla Sells 47,000 Shares of Graco Inc. (GGG) Stock
Graco Inc. (NYSE:GGG) VP Charles L. Rescorla sold 47,000 shares of Graco stock in a transaction on Friday, November 10th. The stock was sold at an average price of $129.93, for a total transaction of $6,106,710.00. Following the transaction, the vice president now directly owns 108,802 shares of the company’s stock, valued at $14,136,643.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Graco Inc. (GGG) opened at $129.35 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7,230.67, a PE ratio of 28.13, a P/E/G ratio of 2.82 and a beta of 1.25. Graco Inc. has a fifty-two week low of $80.20 and a fifty-two week high of $134.11.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.09. The firm had revenue of $379.81 million during the quarter, compared to the consensus estimate of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. research analysts anticipate that Graco Inc. will post 4.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Monday, October 16th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.11%. Graco’s payout ratio is currently 75.79%.
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Several analysts have recently weighed in on GGG shares. SunTrust Banks, Inc. reiterated a “hold” rating and set a $128.00 target price on shares of Graco in a research report on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of Graco in a research report on Friday, October 20th. Robert W. Baird reiterated a “hold” rating and set a $135.00 target price on shares of Graco in a research report on Friday, October 27th. Wolfe Research upgraded Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 target price for the company in a research report on Monday, July 31st. Finally, BidaskClub downgraded Graco from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Eleven equities research analysts have rated the stock with a hold rating, Graco presently has an average rating of “Hold” and a consensus target price of $116.75.
Hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its holdings in shares of Graco by 106.1% in the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 578 shares in the last quarter. Acrospire Investment Management LLC raised its holdings in shares of Graco by 200.0% in the second quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $131,000 after acquiring an additional 800 shares in the last quarter. Fiduciary Trust Co. bought a new stake in shares of Graco in the second quarter valued at about $180,000. Mosaic Family Wealth LLC raised its holdings in shares of Graco by 5.1% in the second quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 91 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Graco in the first quarter valued at about $206,000. Hedge funds and other institutional investors own 86.40% of the company’s stock.
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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