Greenleaf Trust Acquires Shares of 2,718 Graco Inc. (NYSE:GGG)

Greenleaf Trust bought a new stake in shares of Graco Inc. (NYSE:GGG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,718 shares of the industrial products company’s stock, valued at approximately $236,000.

Several other large investors have also recently made changes to their positions in the business. Tobam raised its stake in Graco by 2,330.8% in the 4th quarter. Tobam now owns 316 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 303 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Graco during the fourth quarter valued at about $28,000. Fortitude Family Office LLC bought a new stake in shares of Graco during the fourth quarter valued at about $29,000. Allspring Global Investments Holdings LLC increased its position in shares of 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 valued at $44,000 after buying an additional 582 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Graco by 370.7% during the third quarter. Larson Financial Group LLC now owns 626 shares of the industrial products company’s stock valued at $46,000 after buying an additional 493 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Price Performance

Shares of GGG opened at $89.35 on Thursday. Graco Inc. has a 1 year low of $68.78 and a 1 year high of $94.77. The stock has a 50 day simple moving average of $91.23 and a two-hundred day simple moving average of $84.82. The firm has a market cap of $15.06 billion, a P/E ratio of 30.39, a P/E/G ratio of 2.81 and a beta of 0.81.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. Graco had a return on equity of 24.61% and a net margin of 23.07%. The firm had revenue of $566.64 million during the quarter, compared to the consensus estimate of $565.86 million. On average, equities analysts anticipate that Graco Inc. will post 3.14 earnings per share for the current year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a $0.255 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.02 annualized dividend and a yield of 1.14%. Graco’s payout ratio is currently 34.69%.

Analyst Ratings Changes

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

Insider Buying and Selling at Graco

In other Graco news, insider Anthony J. Gargano sold 1,395 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $88.00, for a total value of $122,760.00. Following the completion of the sale, the insider now owns 5,697 shares in the company, valued at $501,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jody H. Feragen sold 5,036 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $92.29, for a total transaction of $464,772.44. Following the completion of the transaction, the director now owns 44,903 shares in the company, valued at $4,144,097.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Anthony J. Gargano sold 1,395 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $88.00, for a total value of $122,760.00. Following the transaction, the insider now owns 5,697 shares of the company’s stock, valued at approximately $501,336. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,378 shares of company stock worth $4,376,528. 2.63% of the stock is currently owned by insiders.

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.