Graco Inc. (NYSE:GGG) Insider Caroline M. Chambers Sells 8,280 Shares

Graco Inc. (NYSE:GGGGet Free Report) insider Caroline M. Chambers sold 8,280 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $90.57, for a total value of $749,919.60. Following the completion of the transaction, the insider now directly owns 57,612 shares of the company’s stock, valued at approximately $5,217,918.84. This trade represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Graco Stock Performance

GGG traded up $0.30 during mid-day trading on Tuesday, reaching $91.01. The stock had a trading volume of 688,451 shares, compared to its average volume of 747,868. The stock has a market capitalization of $15.37 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.15 and a beta of 0.83. The firm’s fifty day simple moving average is $86.62 and its two-hundred day simple moving average is $83.05. Graco Inc. has a 52 week low of $77.49 and a 52 week high of $94.77.

Graco (NYSE:GGGGet Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The company had revenue of $519.21 million during the quarter, compared to analyst estimates of $538.19 million. Graco had a net margin of 22.87% and a return on equity of 21.24%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. As a group, analysts expect that Graco Inc. will post 2.89 EPS for the current fiscal year.

Graco Announces Dividend

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

Analyst Ratings Changes

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

Get Our Latest Stock Analysis on Graco

Institutional Trading of Graco

Several hedge funds and other institutional investors have recently modified their holdings of GGG. M&G Plc grew its holdings in shares of Graco by 2.0% in the 2nd quarter. M&G Plc now owns 483,535 shares of the industrial products company’s stock valued at $38,199,000 after acquiring an additional 9,673 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Graco by 254.8% in the third quarter. Natixis Advisors LLC now owns 195,533 shares of the industrial products company’s stock valued at $17,111,000 after buying an additional 140,417 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Graco by 2.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 328,306 shares of the industrial products company’s stock valued at $28,730,000 after purchasing an additional 8,485 shares in the last quarter. KBC Group NV raised its position in Graco by 25.8% during the third quarter. KBC Group NV now owns 31,991 shares of the industrial products company’s stock valued at $2,800,000 after purchasing an additional 6,571 shares in the last quarter. Finally, Private Wealth Partners LLC bought a new stake in shares of Graco during the third quarter worth $876,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Graco (NYSE:GGG)

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