Shares of Graco Inc. (NYSE:GGG) have received a consensus rating of “Hold” from the ten research firms that are currently covering the firm. Eight analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $83.67.
A number of research firms have issued reports on GGG. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Tuesday, January 10th. RBC Capital Markets restated a “hold” rating and issued a $80.00 target price on shares of Graco in a report on Thursday, January 5th.
Graco (NYSE:GGG) opened at 89.55 on Friday. Graco has a 1-year low of $68.11 and a 1-year high of $89.58. The stock has a 50 day moving average of $85.06 and a 200 day moving average of $78.05. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 25.66 and a beta of 1.31.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 17th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.61%. This is an increase from Graco’s previous quarterly dividend of $0.33. Graco’s dividend payout ratio is currently 41.38%.
In related news, VP Karen Park Gallivan sold 10,000 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $80.00, for a total transaction of $800,000.00. Following the completion of the sale, the vice president now owns 19,868 shares of the company’s stock, valued at approximately $1,589,440. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Martha A. M. Morfitt sold 7,100 shares of the stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $83.00, for a total transaction of $589,300.00. Following the sale, the director now directly owns 64,023 shares of the company’s stock, valued at approximately $5,313,909. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,700 shares of company stock valued at $6,057,182. Corporate insiders own 5.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Graco by 4.5% in the second quarter. Vanguard Group Inc. now owns 4,543,988 shares of the company’s stock worth $358,931,000 after buying an additional 196,697 shares during the period. Mairs & Power INC increased its stake in Graco by 11.1% in the third quarter. Mairs & Power INC now owns 3,265,581 shares of the company’s stock worth $241,653,000 after buying an additional 325,193 shares during the period. Fiera Capital Corp increased its stake in Graco by 2.5% in the second quarter. Fiera Capital Corp now owns 2,378,013 shares of the company’s stock worth $187,840,000 after buying an additional 58,975 shares during the period. Atlanta Capital Management Co. L L C increased its stake in Graco by 7.1% in the second quarter. Atlanta Capital Management Co. L L C now owns 2,242,693 shares of the company’s stock worth $177,151,000 after buying an additional 148,678 shares during the period. Finally, BlackRock Fund Advisors increased its stake in Graco by 4.3% in the third quarter. BlackRock Fund Advisors now owns 2,036,991 shares of the company’s stock worth $150,737,000 after buying an additional 83,670 shares during the period. 87.52% of the stock is owned by hedge funds and other institutional investors.
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Contractor, and Lubrication. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.