3,178 Shares in Graco Inc. (NYSE:GGG) Bought by RIA Advisory Group LLC

RIA Advisory Group LLC purchased a new stake in Graco Inc. (NYSE:GGG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,178 shares of the industrial products company’s stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC grew its holdings in Graco by 5.5% during the second quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 120 shares during the period. Ballentine Partners LLC raised its holdings in Graco by 3.1% in the 3rd quarter. Ballentine Partners LLC now owns 4,222 shares of the industrial products company’s stock valued at $369,000 after acquiring an additional 128 shares during the period. Harbor Capital Advisors Inc. lifted its position in Graco by 7.1% during the second quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 134 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of Graco by 8.8% during the second quarter. iA Global Asset Management Inc. now owns 1,687 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 136 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Graco by 6.3% in the second quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock valued at $190,000 after purchasing an additional 141 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on GGG shares. DA Davidson reaffirmed a “neutral” rating and issued a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Royal Bank of Canada decreased their price target on shares of 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 price objective 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Graco has a consensus rating of “Hold” and an average target price of $89.25.

Graco Stock Up 0.5 %

Shares of NYSE:GGG traded up $0.45 during midday trading on Friday, hitting $89.62. The stock had a trading volume of 2,338,047 shares, compared to its average volume of 742,854. The company’s 50-day moving average price is $85.13 and its 200-day moving average price is $82.45. Graco Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $94.77. The company has a market capitalization of $15.13 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 3.03 and a beta of 0.82.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $519.21 million for 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 firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. Research analysts expect that Graco Inc. will post 2.92 EPS for the current fiscal year.

Graco Dividend Announcement

The business 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. The ex-dividend date was Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.14%. Graco’s payout ratio is currently 36.04%.

Insider Buying and Selling at Graco

In related news, insider David J. Thompson sold 3,216 shares of Graco stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $88.31, for a total transaction of $284,004.96. Following the completion of the transaction, the insider now owns 27,246 shares of the company’s stock, valued at $2,406,094.26. This trade represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.63% of the company’s stock.

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.