1,324,668 Shares in Graco Inc. $GGG Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new position in shares of Graco Inc. (NYSE:GGG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,324,668 shares of the industrial products company’s stock, valued at approximately $100,157,000. Hsbc Holdings PLC owned about 0.82% of Graco at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Cassaday & Co Wealth Management LLC purchased a new position in shares of Graco during the first quarter worth $26,000. Whipplewood Advisors LLC grew its position in Graco by 2,650.0% during the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 318 shares during the period. Essential Partners LLC grew its position in Graco by 78.6% during the 1st quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 158 shares during the period. Elevation Wealth Partners LLC raised its stake in shares of Graco by 2,540.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company’s stock valued at $40,000 after buying an additional 508 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after buying an additional 452 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Trading Up 1.1%

Shares of GGG stock opened at $79.58 on Thursday. Graco Inc. has a 12-month low of $72.51 and a 12-month high of $95.69. The business’s 50 day moving average is $78.02 and its two-hundred day moving average is $81.74. The company has a market capitalization of $12.89 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.42 and a beta of 0.92.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. Graco had a net margin of 23.53% and a return on equity of 19.54%. The company had revenue of $590.55 million during the quarter, compared to analyst estimates of $608.06 million. During the same quarter in the previous year, the firm earned $0.75 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Graco Inc. will post 3.26 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were paid a $0.295 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.5%. Graco’s dividend payout ratio (DPR) is currently 37.11%.

Analysts Set New Price Targets

Several analysts recently commented on GGG shares. Robert W. Baird set a $94.00 target price on Graco in a report on Friday, July 24th. Wolfe Research downgraded Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. DA Davidson restated a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research report on Monday, July 27th. Royal Bank Of Canada raised their price objective on shares of Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Weiss Ratings raised shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $95.00.

Graco Company Profile

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.