Graco Inc. (NYSE:GGG) Stock Holdings Lessened by Raymond James & Associates

Raymond James & Associates cut its stake in shares of Graco Inc. (NYSE:GGG) by 4.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 338,010 shares of the industrial products company’s stock after selling 16,149 shares during the period. Raymond James & Associates owned about 0.20% of Graco worth $29,579,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in Graco in the fourth quarter valued at approximately $228,000. Park Avenue Securities LLC lifted its stake in shares of Graco by 1.9% in the 1st quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock valued at $700,000 after purchasing an additional 139 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Graco by 214.2% in the first quarter. Sound Income Strategies LLC now owns 1,021 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 696 shares in the last quarter. Janiczek Wealth Management LLC increased its position in Graco by 25.8% during the first quarter. Janiczek Wealth Management LLC now owns 3,219 shares of the industrial products company’s stock worth $301,000 after buying an additional 661 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Graco by 9.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 88,143 shares of the industrial products company’s stock valued at $8,238,000 after buying an additional 7,611 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Down 1.1 %

Shares of NYSE:GGG opened at $82.89 on Thursday. The company has a market cap of $14.02 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 2.88 and a beta of 0.81. The business has a 50 day moving average price of $83.88 and a 200 day moving average price of $82.79. Graco Inc. has a twelve month low of $69.78 and a twelve month high of $94.77.

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

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, October 21st. Graco’s payout ratio is currently 35.17%.

Analyst Ratings Changes

GGG has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price target on Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Robert W. Baird decreased their target price on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, DA Davidson reissued a “neutral” rating and issued a $79.00 price target on shares of Graco in a research report on Friday, September 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Graco currently has a consensus rating of “Hold” and an average target price of $90.25.

About Graco

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.