Xponance Inc. Sells 351 Shares of Graco Inc. (NYSE:GGG)

Xponance Inc. cut its holdings in shares of Graco Inc. (NYSE:GGG) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,063 shares of the industrial products company’s stock after selling 351 shares during the period. Xponance Inc.’s holdings in Graco were worth $2,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GGG. Tobam increased its position in shares of Graco by 2,330.8% during the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 303 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Graco during the fourth quarter worth about $28,000. Fortitude Family Office LLC purchased a new position in Graco during the fourth quarter worth about $29,000. Allspring Global Investments Holdings LLC boosted its holdings in Graco by 3,063.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 582 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Graco by 370.7% during the third quarter. Larson Financial Group LLC now owns 626 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 493 shares during the last quarter. 93.88% of the stock is owned by institutional investors.

Graco Stock Down 0.2 %

GGG opened at $88.20 on Tuesday. The stock has a market cap of $14.86 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 2.81 and a beta of 0.81. Graco Inc. has a twelve month low of $68.78 and a twelve month high of $94.77. The company’s 50-day moving average price is $91.19 and its two-hundred day moving average price is $84.71.

Graco (NYSE:GGG) last released its earnings results on Monday, January 29th. The industrial products company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $566.64 million for the quarter, compared to analysts’ expectations of $565.86 million. Graco had a net margin of 23.07% and a return on equity of 24.61%. As a group, sell-side analysts anticipate that Graco Inc. will post 3.14 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, April 12th. Graco’s payout ratio is currently 34.69%.

Analyst Ratings Changes

Several research analysts recently weighed in on GGG shares. Royal Bank of Canada boosted their price target on shares of Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Jefferies Financial Group boosted their price target on shares of Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, StockNews.com upgraded shares of Graco from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.80.

Insider Activity at Graco

In related news, VP Angela F. Wordell sold 3,588 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total transaction of $335,836.80. Following the sale, the vice president now directly owns 12,725 shares in the company, valued at approximately $1,191,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Angela F. Wordell sold 3,588 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total transaction of $335,836.80. Following the sale, the vice president now directly owns 12,725 shares in the company, valued at approximately $1,191,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy R. White sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $92.82, for a total transaction of $232,050.00. Following the sale, the insider now owns 48,282 shares in the company, valued at $4,481,535.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,378 shares of company stock worth $4,376,528. 2.63% of the stock is owned by corporate insiders.

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.