Sumitomo Mitsui Trust Group Inc. Sells 8,103 Shares of Graco Inc. $GGG

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Graco Inc. (NYSE:GGG) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,265 shares of the industrial products company’s stock after selling 8,103 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Graco were worth $27,195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its holdings in Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares in the last quarter. Field & Main Bank purchased a new stake in Graco during the 4th quarter valued at approximately $41,000. Root Financial Partners LLC raised its position in shares of Graco by 43.2% during the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock valued at $43,000 after buying an additional 152 shares during the last quarter. Matrix Trust Co raised its position in shares of Graco by 43.0% during the fourth quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock valued at $45,000 after buying an additional 167 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Graco by 41.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 746 shares of the industrial products company’s stock worth $62,000 after buying an additional 219 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Insider Buying and Selling

In other news, Director Andrea Helen Simon acquired 1,240 shares of the business’s stock in a transaction on Monday, April 27th. The shares were acquired at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the transaction, the director directly owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.18% of the stock is owned by insiders.

Graco Price Performance

Shares of GGG stock opened at $73.85 on Tuesday. Graco Inc. has a 1 year low of $72.51 and a 1 year high of $95.69. The stock’s 50 day simple moving average is $75.53 and its two-hundred day simple moving average is $83.15. The company has a market cap of $12.26 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 2.38 and a beta of 0.93.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.09). The company had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. Graco’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. Equities research analysts expect that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, July 20th. Graco’s payout ratio is presently 38.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GGG. Robert W. Baird dropped their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Graco in a report on Friday, April 24th. Wolfe Research cut shares of Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Weiss Ratings downgraded shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, DA Davidson restated a “neutral” rating and set a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.25.

Graco 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.