WealthPlan Investment Management LLC Purchases 6,169 Shares of Graco Inc. (NYSE:GGG)

WealthPlan Investment Management LLC grew its holdings in shares of Graco Inc. (NYSE:GGG) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,131 shares of the industrial products company’s stock after purchasing an additional 6,169 shares during the quarter. Graco makes up approximately 1.1% of WealthPlan Investment Management LLC’s holdings, making the stock its 26th biggest position. WealthPlan Investment Management LLC owned about 0.07% of Graco worth $10,863,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Gradient Investments LLC bought a new position in Graco in the 2nd quarter worth $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Graco during the 1st quarter valued at $43,000. UMB Bank n.a. lifted its holdings in Graco by 187.8% in the 3rd quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 323 shares in the last quarter. Blue Trust Inc. boosted its stake in Graco by 220.9% in the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 475 shares during the period. Finally, Eastern Bank purchased a new position in shares of Graco in the third quarter worth $59,000. Institutional investors own 93.88% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other Graco news, insider David J. Thompson sold 3,216 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 27,246 shares of the company’s stock, valued at approximately $2,406,094.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.63% of the company’s stock.

Graco Price Performance

Shares of GGG stock opened at $89.04 on Tuesday. The stock’s fifty day moving average price is $84.49 and its 200 day moving average price is $82.27. Graco Inc. has a 1-year low of $77.03 and a 1-year high of $94.77. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 3.00 and a beta of 0.82.

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 analysts’ consensus estimates of $0.76 by ($0.05). The firm had revenue of $519.21 million during the quarter, compared to analysts’ expectations of $538.19 million. Graco had a return on equity of 21.24% and a net margin of 22.87%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the business earned $0.76 EPS. As a group, equities research analysts anticipate that Graco Inc. will post 2.92 earnings per share for the current year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were given a $0.255 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.15%. Graco’s dividend payout ratio (DPR) is currently 36.04%.

Graco Company 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.