Graco Inc. (NYSE:GGG) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. raised its position in shares of Graco Inc. (NYSE:GGG) by 59.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,225 shares of the industrial products company’s stock after acquiring an additional 3,422 shares during the quarter. Raymond James Trust N.A.’s holdings in Graco were worth $807,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Portfolio Design Labs LLC purchased a new stake in shares of Graco during the third quarter worth approximately $2,139,000. PNC Financial Services Group Inc. increased its position in shares of Graco by 5.6% during the third quarter. PNC Financial Services Group Inc. now owns 55,004 shares of the industrial products company’s stock worth $4,813,000 after purchasing an additional 2,939 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Graco during the third quarter worth approximately $686,000. Prospera Financial Services Inc increased its position in shares of Graco by 13.9% during the third quarter. Prospera Financial Services Inc now owns 3,875 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 474 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Graco by 9.6% during the third quarter. Meeder Asset Management Inc. now owns 56,396 shares of the industrial products company’s stock worth $4,935,000 after purchasing an additional 4,952 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insider Activity

In other news, insider David J. Thompson sold 3,216 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total value of $284,004.96. Following the transaction, the insider now owns 27,246 shares of the company’s stock, valued at $2,406,094.26. This represents a 10.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter J. O’shea sold 18,075 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $88.76, for a total value of $1,604,337.00. Following the completion of the transaction, the insider now directly owns 14,516 shares in the company, valued at approximately $1,288,440.16. This trade represents a 55.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GGG. DA Davidson reiterated a “neutral” rating and set a $79.00 price target on shares of Graco in a research report on Friday, September 27th. Royal Bank of Canada dropped their price target on Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Robert W. Baird dropped their price target on Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $89.25.

Graco Stock Up 1.7 %

Shares of NYSE:GGG opened at $91.08 on Monday. The business has a fifty day moving average of $85.86 and a two-hundred day moving average of $82.73. The stock has a market cap of $15.38 billion, a P/E ratio of 32.18, a PEG ratio of 3.10 and a beta of 0.82. Graco Inc. has a 52-week low of $77.49 and a 52-week high of $94.77.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). The company had revenue of $519.21 million during the quarter, compared to analysts’ expectations of $538.19 million. Graco had a net margin of 22.87% and a return on equity of 21.24%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 earnings per share. On average, equities analysts anticipate that Graco Inc. will post 2.89 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Monday, October 21st. Graco’s dividend payout ratio (DPR) is presently 36.04%.

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.