Graco Inc. (NYSE:GGG) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in Graco Inc. (NYSE:GGG) by 774.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,679 shares of the industrial products company’s stock after acquiring an additional 47,540 shares during the quarter. Intech Investment Management LLC’s holdings in Graco were worth $4,256,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in Graco by 1,010.8% during the 1st quarter. SG Americas Securities LLC now owns 55,886 shares of the industrial products company’s stock worth $5,223,000 after purchasing an additional 50,855 shares during the period. Vident Advisory LLC grew its holdings in Graco by 567.4% during the first quarter. Vident Advisory LLC now owns 42,899 shares of the industrial products company’s stock worth $4,009,000 after acquiring an additional 36,471 shares during the period. Focus Financial Network Inc. ADV purchased a new position in Graco during the fourth quarter valued at approximately $6,412,000. Secured Retirement Advisors LLC acquired a new position in Graco in the fourth quarter valued at approximately $1,606,000. Finally, TD Asset Management Inc lifted its holdings in Graco by 14.5% in the first quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock valued at $134,618,000 after acquiring an additional 182,470 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Down 1.5 %

GGG stock opened at $84.59 on Friday. The stock has a market capitalization of $14.31 billion, a P/E ratio of 29.17, a P/E/G ratio of 2.76 and a beta of 0.81. Graco Inc. has a 52 week low of $69.78 and a 52 week high of $94.77. The firm has a 50-day simple moving average of $82.03 and a 200-day simple moving average of $83.94.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $562.27 million. Graco had a return on equity of 22.40% and a net margin of 23.16%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, analysts expect that Graco Inc. will post 2.98 earnings per share for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be issued a $0.255 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a yield of 1.21%. Graco’s payout ratio is currently 35.17%.

Analysts Set New Price Targets

GGG has been the topic of a number of analyst reports. DA Davidson dropped their price objective on shares of Graco from $82.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. StockNews.com downgraded shares of Graco from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Royal Bank of Canada dropped their target price on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Robert W. Baird reduced their price target on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Graco presently has a consensus rating of “Hold” and a consensus target price of $86.80.

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.