Summit Financial LLC Makes New $219,000 Investment in Graco Inc. (NYSE:GGG)

Summit Financial LLC acquired a new stake in shares of Graco Inc. (NYSE:GGG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,600 shares of the industrial products company’s stock, valued at approximately $219,000.

A number of other large investors also recently modified their holdings of GGG. Golden State Wealth Management LLC bought a new stake in Graco during the fourth quarter valued at about $25,000. TD Private Client Wealth LLC grew its position in shares of Graco by 118.0% during the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 190 shares in the last quarter. National Pension Service bought a new stake in Graco during the 4th quarter valued at approximately $34,000. Whipplewood Advisors LLC purchased a new position in Graco in the 4th quarter worth approximately $37,000. Finally, Brooklyn Investment Group boosted its stake in Graco by 39.1% in the 4th quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GGG. BNP Paribas upgraded shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research report on Thursday, December 19th. DA Davidson set a $85.00 price target on shares of Graco in a report on Friday, January 31st. Finally, Royal Bank of Canada increased their price objective on shares of Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Graco presently has a consensus rating of “Hold” and a consensus target price of $93.00.

Graco Stock Performance

GGG stock opened at $75.70 on Friday. The firm has a fifty day moving average price of $84.62 and a 200 day moving average price of $85.56. Graco Inc. has a fifty-two week low of $75.64 and a fifty-two week high of $93.01. The firm has a market cap of $12.73 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83.

Graco (NYSE:GGG) last issued its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. On average, equities analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.45%. Graco’s dividend payout ratio (DPR) is presently 39.01%.

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.