Swiss National Bank Increases Position in Graco Inc. $GGG

Swiss National Bank increased its position in Graco Inc. (NYSE:GGG) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 486,600 shares of the industrial products company’s stock after acquiring an additional 31,100 shares during the period. Swiss National Bank owned approximately 0.29% of Graco worth $41,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GGG. State Street Corp increased its holdings in shares of Graco by 3.2% in the fourth quarter. State Street Corp now owns 7,813,877 shares of the industrial products company’s stock valued at $640,503,000 after purchasing an additional 242,817 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Graco by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 4,652,241 shares of the industrial products company’s stock worth $380,642,000 after purchasing an additional 261,126 shares during the period. Morgan Stanley boosted its position in Graco by 5.4% in the fourth quarter. Morgan Stanley now owns 4,057,036 shares of the industrial products company’s stock valued at $332,556,000 after buying an additional 206,949 shares during the last quarter. Amundi boosted its position in Graco by 2.6% in the third quarter. Amundi now owns 2,076,887 shares of the industrial products company’s stock valued at $176,016,000 after buying an additional 53,126 shares during the last quarter. Finally, Norges Bank acquired a new position in Graco in the 4th quarter worth approximately $161,949,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Trading Up 1.2%

Shares of NYSE:GGG opened at $73.99 on Thursday. Graco Inc. has a 12-month low of $72.51 and a 12-month high of $95.69. The business has a 50 day moving average of $74.97 and a two-hundred day moving average of $82.71. The company has a market capitalization of $12.28 billion, a PE ratio of 24.10, a PEG ratio of 2.36 and a beta of 0.93.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. The business had revenue of $590.55 million for the quarter, compared to analysts’ expectations of $608.06 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. Equities research analysts predict that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, July 20th. Graco’s dividend payout ratio (DPR) is currently 38.44%.

Insiders Place Their Bets

In other news, Director Andrea Helen Simon acquired 1,240 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the transaction, the director owned 1,240 shares in the company, valued at approximately $99,857.20. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GGG shares. Weiss Ratings lowered shares of Graco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Robert W. Baird dropped their price objective on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $92.00 target price (down from $95.00) on shares of Graco in a report on Thursday, July 16th. Wolfe Research downgraded shares of Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Graco in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $93.50.

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.