Wellington Management Group LLP Has $198.43 Million Holdings in Graco Inc. (NYSE:GGG)

Wellington Management Group LLP lessened its holdings in shares of Graco Inc. (NYSE:GGG) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,287,137 shares of the industrial products company’s stock after selling 15,615 shares during the period. Wellington Management Group LLP owned about 1.36% of Graco worth $198,432,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Graco by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 17,085,518 shares of the industrial products company’s stock worth $1,245,193,000 after purchasing an additional 726,245 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in shares of Graco by 19.0% during the 4th quarter. PineStone Asset Management Inc. now owns 3,118,703 shares of the industrial products company’s stock worth $270,579,000 after acquiring an additional 498,724 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Graco by 4.1% during the 4th quarter. Allianz Asset Management GmbH now owns 1,802,128 shares of the industrial products company’s stock worth $156,353,000 after acquiring an additional 71,788 shares during the period. Norges Bank bought a new stake in shares of Graco during the 4th quarter worth approximately $152,941,000. Finally, Northern Trust Corp lifted its holdings in shares of Graco by 4.6% during the 3rd quarter. Northern Trust Corp now owns 1,575,804 shares of the industrial products company’s stock worth $114,845,000 after acquiring an additional 69,151 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GGG. Robert W. Baird cut their price target on shares of Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a report on Friday, April 26th. StockNews.com downgraded shares of Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Finally, William Blair reaffirmed a “market perform” rating on shares of Graco in a report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $88.25.

Graco Price Performance

Shares of NYSE:GGG opened at $80.20 on Wednesday. The company has a market cap of $13.57 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.60 and a beta of 0.82. The firm has a 50 day simple moving average of $83.04 and a 200 day simple moving average of $86.22. Graco Inc. has a one year low of $69.78 and a one year high of $94.77.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.09). The company had revenue of $492.19 million during the quarter, compared to the consensus estimate of $536.19 million. Graco had a net margin of 23.15% and a return on equity of 23.01%. Graco’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. As a group, analysts expect that Graco Inc. will post 3.05 EPS for the current year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Monday, July 22nd will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, July 22nd. Graco’s payout ratio is currently 35.17%.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.