Graco Inc. $GGG Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in Graco Inc. (NYSE:GGG) by 9,716.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 170,412 shares of the industrial products company’s stock after acquiring an additional 168,676 shares during the quarter. Fifth Third Bancorp’s holdings in Graco were worth $14,425,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC grew its position in shares of Graco by 2,650.0% in the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 318 shares during the period. Field & Main Bank purchased a new stake in shares of Graco during the fourth quarter worth about $41,000. Geneos Wealth Management Inc. raised its position in shares of Graco by 982.6% during 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. Root Financial Partners LLC raised its position in shares of Graco by 43.2% during the 1st quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 152 shares during the last quarter. Finally, Matrix Trust Co lifted its stake in Graco by 43.0% in the 4th quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock valued at $45,000 after buying an additional 167 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Price Performance

Shares of Graco stock opened at $73.83 on Wednesday. The stock has a market cap of $12.25 billion, a P/E ratio of 24.05, a P/E/G ratio of 2.38 and a beta of 0.93. The stock’s 50 day simple moving average is $75.43 and its 200-day simple moving average is $83.08. Graco Inc. has a 1-year low of $72.51 and a 1-year high of $95.69.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The company had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. During the same period in the prior year, the business posted $0.70 EPS. Graco’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Graco Inc. will post 3.1 EPS for the current fiscal year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.6%. Graco’s dividend payout ratio (DPR) is 38.44%.

Insider Activity

In related news, Director Andrea Helen Simon purchased 1,240 shares of Graco stock in a transaction dated Monday, April 27th. The shares were acquired at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the acquisition, the director directly owned 1,240 shares in the company, valued at approximately $99,857.20. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Weiss Ratings downgraded Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Wolfe Research cut Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. DA Davidson restated a “neutral” rating and issued a $85.00 price objective on shares of Graco in a report on Monday, April 27th. Finally, Robert W. Baird lowered their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Graco presently has a consensus rating of “Hold” and a consensus price target of $94.25.

Graco Company Profile

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.