Seilern Investment Management Ltd Sells 8,893 Shares of Graco Inc. $GGG

Seilern Investment Management Ltd lessened its holdings in Graco Inc. (NYSE:GGG) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 83,370 shares of the industrial products company’s stock after selling 8,893 shares during the period. Graco comprises 0.5% of Seilern Investment Management Ltd’s holdings, making the stock its 19th biggest position. Seilern Investment Management Ltd’s holdings in Graco were worth $6,834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GGG. Stonebridge Capital Advisors LLC increased its holdings in Graco by 0.3% during the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after buying an additional 119 shares during the period. Fifth Third Bancorp lifted its holdings in Graco by 7.7% during the third quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock worth $149,000 after buying an additional 125 shares during the period. ICW Investment Advisors LLC boosted its position in Graco by 4.6% during the 3rd quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 126 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Graco by 7.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock valued at $159,000 after acquiring an additional 135 shares in the last quarter. Finally, Viawealth LLC increased its holdings in shares of Graco by 0.3% in the 3rd quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock valued at $4,519,000 after acquiring an additional 137 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Graco Trading Up 1.6%

NYSE GGG opened at $85.24 on Tuesday. The firm’s fifty day simple moving average is $89.73 and its two-hundred day simple moving average is $85.34. The firm has a market capitalization of $14.13 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.63 and a beta of 1.07. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $95.69.

Graco (NYSE:GGG) last issued its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, meeting 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 during the quarter, compared to analyst estimates of $591.99 million. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, sell-side analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

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

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 13th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, April 13th. Graco’s dividend payout ratio is currently 38.19%.

Insiders Place Their Bets

In other news, Director J Kevin Gilligan sold 12,870 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total transaction of $1,146,330.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kathryn L. Schoenrock sold 2,223 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $88.06, for a total transaction of $195,757.38. Following the transaction, the executive vice president owned 7,846 shares in the company, valued at approximately $690,918.76. This trade represents a 22.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 19,394 shares of company stock valued at $1,739,326. 2.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.