Graco Inc. (NYSE:GGG) Stock Position Lifted by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its stake in shares of Graco Inc. (NYSE:GGG) by 5.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,129 shares of the industrial products company’s stock after purchasing an additional 706 shares during the period. Bleakley Financial Group LLC’s holdings in Graco were worth $1,149,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Gradient Investments LLC bought a new stake in Graco in the second quarter worth approximately $27,000. New Covenant Trust Company N.A. bought a new stake in Graco in the first quarter worth approximately $43,000. UMB Bank n.a. grew its position in Graco by 187.8% in the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 323 shares in the last quarter. Blue Trust Inc. grew its position in Graco by 220.9% in the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 475 shares in the last quarter. Finally, Tobam grew its position in Graco by 90.2% in the first quarter. Tobam now owns 601 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 285 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Price Performance

Shares of Graco stock opened at $85.92 on Monday. Graco Inc. has a 52-week low of $69.78 and a 52-week high of $94.77. The firm has a market capitalization of $14.53 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. The company’s fifty day moving average price is $83.64 and its two-hundred day moving average price is $82.96.

Graco (NYSE:GGG) last released its quarterly earnings data 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 the consensus estimate of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. Analysts predict that Graco Inc. will post 2.98 earnings per share for the current fiscal year.

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Monday, October 21st. Graco’s payout ratio is 35.17%.

Analyst Upgrades and Downgrades

Several research firms have commented on GGG. DA Davidson reissued a “neutral” rating and issued a $79.00 target price on shares of Graco in a research report on Friday, September 27th. Robert W. Baird cut 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. Finally, Royal Bank of Canada lowered their price objective on shares of Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Four equities research 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 currently has a consensus rating of “Hold” and a consensus price target of $90.25.

Graco 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.