Pacer Advisors Inc. Acquires 60,271 Shares of Graco Inc. $GGG

Pacer Advisors Inc. raised its holdings in shares of Graco Inc. (NYSE:GGG) by 26.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 288,315 shares of the industrial products company’s stock after buying an additional 60,271 shares during the period. Pacer Advisors Inc. owned about 0.17% of Graco worth $24,406,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC purchased a new position in shares of Graco in the first quarter worth about $26,000. Whipplewood Advisors LLC boosted its holdings in Graco by 2,650.0% during the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 318 shares during the period. Essential Partners LLC grew its position in Graco by 78.6% during the 1st quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 158 shares during the last quarter. Field & Main Bank bought a new position in Graco during the 4th quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. increased its stake in 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 period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Graco Price Performance

GGG opened at $80.23 on Tuesday. Graco Inc. has a one year low of $72.51 and a one year high of $95.69. The business has a 50 day simple moving average of $75.67 and a two-hundred day simple moving average of $82.46. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 2.47 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The firm had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. During the same period last year, the company earned $0.75 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that Graco Inc. will post 3.22 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors 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 yield of 1.5%. Graco’s dividend payout ratio (DPR) is presently 37.11%.

Analysts Set New Price Targets

Several brokerages have weighed in on GGG. Wolfe Research downgraded Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Weiss Ratings cut shares of Graco from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Royal Bank Of Canada upped their price target on shares of Graco from $92.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, July 24th. DA Davidson reissued a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday, July 27th. Finally, Robert W. Baird set a $94.00 price target on shares of Graco in a report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Graco has a consensus rating of “Hold” and a consensus price target of $95.00.

Graco 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.