Inspire Investing LLC decreased its position in shares of Graco Inc. (NYSE:GGG – Free Report) by 26.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,157 shares of the industrial products company’s stock after selling 5,085 shares during the period. Inspire Investing LLC’s holdings in Graco were worth $1,239,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in GGG. Gradient Investments LLC bought a new position in Graco during the 2nd quarter valued at about $27,000. Rise Advisors LLC purchased a new stake in shares of Graco in the first quarter worth approximately $38,000. New Covenant Trust Company N.A. bought a new stake in shares of Graco during the 1st quarter worth approximately $43,000. UMB Bank n.a. boosted its holdings in Graco by 187.8% during the 3rd quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 323 shares during the period. Finally, Tobam grew its position in Graco by 90.2% in the 1st quarter. Tobam now owns 601 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.
Analysts Set New Price Targets
GGG has been the subject of several research analyst reports. 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. DA Davidson reissued a “neutral” rating and set a $79.00 price target on shares of Graco in a research report on Friday, September 27th. Finally, Royal Bank of Canada dropped their target price on shares of Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $90.25.
Graco Price Performance
GGG opened at $86.30 on Monday. The firm has a market capitalization of $14.60 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. The business’s 50-day moving average is $82.95 and its two-hundred day moving average is $83.12. Graco Inc. has a 1 year low of $69.78 and a 1 year high of $94.77.
Graco (NYSE:GGG – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $553.20 million for 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 company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. As a group, sell-side analysts expect that Graco Inc. will post 2.98 EPS for the current year.
Graco Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Monday, October 21st. Graco’s dividend payout ratio (DPR) is presently 35.17%.
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.
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