Angela Wordell Sells 2,832 Shares of Graco (NYSE:GGG) Stock

Graco Inc. (NYSE:GGG) EVP Angela Wordell sold 2,832 shares of Graco stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $93.22, for a total transaction of $263,999.04. Following the transaction, the executive vice president directly owned 13,360 shares in the company, valued at $1,245,419.20. The trade was a 17.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Graco Stock Up 1.5%

Shares of NYSE GGG opened at $94.16 on Wednesday. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $94.62. The stock has a market cap of $15.61 billion, a price-to-earnings ratio of 30.47, a P/E/G ratio of 2.91 and a beta of 1.08. The company’s fifty day moving average is $85.54 and its 200-day moving average is $84.19.

Graco (NYSE:GGG) last posted its earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The firm had revenue of $593.16 million for the quarter, compared to analyst estimates of $591.99 million. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, January 19th were given a $0.295 dividend. The ex-dividend date was Friday, January 16th. This represents a $1.18 annualized dividend and a dividend yield of 1.3%. This is a boost from Graco’s previous quarterly dividend of $0.28. Graco’s payout ratio is presently 38.19%.

Graco announced that its board has initiated a share repurchase program on Friday, December 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. KeyCorp reiterated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Weiss Ratings raised shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Robert W. Baird set a $96.00 target price on shares of Graco in a research note on Wednesday, January 28th. DA Davidson reiterated a “neutral” rating and set a $85.00 target price on shares of Graco in a report on Monday, February 2nd. Finally, Royal Bank Of Canada boosted their price target on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Graco has an average rating of “Moderate Buy” and a consensus price target of $96.50.

Hedge Funds Weigh In On Graco

Several hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in Graco during the second quarter worth $170,661,000. Caisse de depot et placement du Quebec increased its stake in Graco by 236.4% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company’s stock valued at $108,711,000 after buying an additional 899,174 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Graco by 20,706.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock worth $45,605,000 after buying an additional 553,688 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Graco by 116.8% during the 2nd quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company’s stock worth $63,201,000 after buying an additional 396,125 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Graco by 877.5% during the 3rd quarter. Schroder Investment Management Group now owns 334,947 shares of the industrial products company’s stock worth $28,300,000 after buying an additional 300,682 shares during the last quarter. 93.88% of the stock is owned by institutional investors.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.