Graco Inc. (NYSE:GGG) Receives $96.50 Average Price Target from Brokerages

Graco Inc. (NYSE:GGG) has been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $96.50.

Several equities analysts have commented on GGG shares. DA Davidson reissued a “neutral” rating and set a $85.00 price objective on shares of Graco in a research report on Monday, February 2nd. Weiss Ratings raised Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Robert W. Baird set a $96.00 price objective on Graco in a research report on Wednesday, January 28th. Royal Bank Of Canada raised their price objective on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group raised their price objective on Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th.

Graco Stock Up 0.1%

Shares of GGG stock opened at $86.87 on Monday. The stock has a fifty day moving average of $88.85 and a 200 day moving average of $85.46. Graco has a 52 week low of $75.91 and a 52 week high of $95.69. The firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 2.72 and a beta of 1.09.

Graco (NYSE:GGG) last announced its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The company had revenue of $593.16 million during the quarter, compared to analyst estimates of $591.99 million. During the same quarter last year, the firm posted $0.64 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Graco will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.18 annualized dividend and a yield of 1.4%. Graco’s dividend payout ratio (DPR) is currently 38.19%.

Insider Transactions at Graco

In other Graco news, EVP Angela F. Wordell sold 2,832 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $93.22, for a total transaction of $263,999.04. Following the completion of the transaction, the executive vice president owned 13,360 shares of the company’s stock, valued at approximately $1,245,419.20. This trade represents a 17.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kathryn L. Schoenrock sold 2,223 shares of Graco stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $88.06, for a total value of $195,757.38. Following the completion of the transaction, the executive vice president directly owned 7,846 shares of the company’s stock, valued at approximately $690,918.76. This represents a 22.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 19,394 shares of company stock worth $1,739,326. Corporate insiders own 2.18% of the company’s stock.

Hedge Funds Weigh In On Graco

Several large investors have recently modified their holdings of GGG. Goldman Sachs Group Inc. raised its position in shares of Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock worth $27,592,000 after purchasing an additional 44,573 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Graco by 97.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 870 shares during the last quarter. Marshall Wace LLP raised its position in shares of Graco by 559.5% in the 2nd quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company’s stock worth $9,293,000 after purchasing an additional 91,708 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Graco by 4.2% in the 2nd quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company’s stock worth $1,830,000 after purchasing an additional 852 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.