Kovitz Investment Group Partners LLC Decreases Holdings in Graco Inc. (NYSE:GGG)

Kovitz Investment Group Partners LLC lessened its holdings in shares of Graco Inc. (NYSE:GGGFree Report) by 50.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,716 shares of the industrial products company’s stock after selling 13,919 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Graco were worth $1,000,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Graco by 64.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 369 shares of the industrial products company’s stock valued at $27,000 after buying an additional 144 shares in the last quarter. Money Concepts Capital Corp boosted its holdings in shares of Graco by 569.7% during the 4th quarter. Money Concepts Capital Corp now owns 509 shares of the industrial products company’s stock valued at $34,000 after buying an additional 433 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Graco during the 2nd quarter valued at $35,000. Your Advocates Ltd. LLP boosted its holdings in shares of Graco by 88.9% during the 2nd quarter. Your Advocates Ltd. LLP now owns 425 shares of the industrial products company’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Graco by 141.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 607 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 356 shares during the last quarter. Institutional investors own 84.94% of the company’s stock.

Analyst Upgrades and Downgrades

GGG has been the subject of a number of research analyst reports. StockNews.com raised Graco from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Jefferies Financial Group boosted their target price on Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Royal Bank of Canada raised their price target on shares of Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.80.

View Our Latest Report on GGG

Graco Stock Performance

Shares of GGG opened at $88.16 on Monday. The company’s fifty day moving average is $84.94 and its 200 day moving average is $79.37. Graco Inc. has a fifty-two week low of $66.17 and a fifty-two week high of $88.31. The stock has a market capitalization of $14.88 billion, a PE ratio of 29.99, a P/E/G ratio of 2.81 and a beta of 0.81.

Graco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Investors of record on Monday, January 22nd were given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, January 19th. This is a boost from Graco’s previous quarterly dividend of $0.24. Graco’s payout ratio is currently 34.69%.

Insider Buying and Selling

In other Graco news, insider Anthony J. Gargano sold 1,395 shares of Graco stock in a transaction on Friday, February 9th. The shares were sold at an average price of $88.00, for a total transaction of $122,760.00. Following the completion of the transaction, the insider now directly owns 5,697 shares of the company’s stock, valued at $501,336. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mark W. Sheahan sold 12,884 shares of Graco stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $83.37, for a total value of $1,074,139.08. Following the completion of the sale, the chief executive officer now directly owns 93,182 shares in the company, valued at $7,768,583.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony J. Gargano sold 1,395 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $88.00, for a total transaction of $122,760.00. Following the completion of the transaction, the insider now owns 5,697 shares of the company’s stock, valued at $501,336. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,024 shares of company stock worth $2,645,923. Insiders own 2.98% of the company’s stock.

Graco Company Profile

(Free Report)

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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