Xponance Inc. Sells 351 Shares of Graco Inc. (NYSE:GGG)

Xponance Inc. trimmed its holdings in Graco Inc. (NYSE:GGG) by 1.3% in the 4th quarter, Holdings Channel reports. The fund owned 27,063 shares of the industrial products company’s stock after selling 351 shares during the quarter. Xponance Inc.’s holdings in Graco were worth $2,348,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GGG. Tobam increased its stake in shares of Graco by 2,330.8% in the 4th quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 303 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Graco in the 4th quarter worth about $28,000. Fortitude Family Office LLC bought a new position in shares of Graco in the 4th quarter worth about $29,000. Allspring Global Investments Holdings LLC increased its stake in shares of Graco by 3,063.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 582 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Graco by 370.7% in the 3rd quarter. Larson Financial Group LLC now owns 626 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 493 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

Graco Stock Performance

NYSE:GGG opened at $88.20 on Tuesday. The firm has a market cap of $14.86 billion, a P/E ratio of 30.00, a P/E/G ratio of 2.81 and a beta of 0.81. Graco Inc. has a fifty-two week low of $68.78 and a fifty-two week high of $94.77. The firm has a 50-day simple moving average of $91.19 and a two-hundred day simple moving average of $84.71.

Graco (NYSE:GGG) last announced its quarterly earnings results on Monday, January 29th. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Graco had a net margin of 23.07% and a return on equity of 24.61%. The firm had revenue of $566.64 million during the quarter, compared to analyst estimates of $565.86 million. On average, equities research analysts predict that Graco Inc. will post 3.14 EPS for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.16%. Graco’s dividend payout ratio is presently 34.69%.

Analyst Upgrades and Downgrades

GGG has been the subject of several research reports. StockNews.com upgraded shares of Graco from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Jefferies Financial Group raised their price objective on shares of Graco from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Royal Bank of Canada raised their price objective on shares of Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Graco presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

Insider Transactions at Graco

In other news, VP Angela F. Wordell sold 3,588 shares of Graco stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total value of $335,836.80. Following the completion of the sale, the vice president now directly owns 12,725 shares in the company, valued at $1,191,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Timothy R. White sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $92.82, for a total value of $232,050.00. Following the transaction, the insider now owns 48,282 shares of the company’s stock, valued at $4,481,535.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Angela F. Wordell sold 3,588 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total transaction of $335,836.80. Following the completion of the transaction, the vice president now directly owns 12,725 shares in the company, valued at approximately $1,191,060. The disclosure for this sale can be found here. Insiders sold 48,378 shares of company stock worth $4,376,528 over the last three months. 2.63% of the stock is currently owned by company insiders.

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.