Truist Financial Corp Sells 1,198 Shares of Graco Inc. (NYSE:GGG)

Truist Financial Corp cut its position in Graco Inc. (NYSE:GGG) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,301 shares of the industrial products company’s stock after selling 1,198 shares during the quarter. Truist Financial Corp’s holdings in Graco were worth $3,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GGG. K.J. Harrison & Partners Inc boosted its position in Graco by 27.1% during the fourth quarter. K.J. Harrison & Partners Inc now owns 23,215 shares of the industrial products company’s stock worth $2,014,000 after purchasing an additional 4,950 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in Graco by 23.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 16,304 shares of the industrial products company’s stock worth $1,415,000 after buying an additional 3,116 shares during the period. GAMMA Investing LLC purchased a new position in Graco in the 4th quarter valued at approximately $153,000. Larson Financial Group LLC raised its holdings in Graco by 103.7% during the 4th quarter. Larson Financial Group LLC now owns 1,275 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 649 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Graco by 13.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 39,111 shares of the industrial products company’s stock worth $3,393,000 after acquiring an additional 4,611 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

Graco stock opened at $83.51 on Wednesday. Graco Inc. has a fifty-two week low of $69.78 and a fifty-two week high of $94.77. The stock has a market cap of $14.12 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 2.68 and a beta of 0.84. The firm’s fifty day moving average price is $89.98 and its 200-day moving average price is $85.46.

Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Graco had a net margin of 23.15% and a return on equity of 23.01%. The firm had revenue of $492.19 million for the quarter, compared to analysts’ expectations of $536.19 million. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, analysts predict that Graco Inc. will post 3.07 earnings per share for the current year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were given a $0.255 dividend. The ex-dividend date was Friday, April 12th. This represents a $1.02 dividend on an annualized basis and a yield of 1.22%. Graco’s payout ratio is 35.17%.

Insider Buying and Selling at Graco

In other news, insider Anthony J. Gargano sold 1,395 shares of the business’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 completion of the sale, the insider now directly owns 5,697 shares in the company, valued at approximately $501,336. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Angela F. Wordell sold 3,588 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total transaction of $335,836.80. Following the transaction, the vice president now directly owns 12,725 shares in the company, valued at approximately $1,191,060. The transaction 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 business’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 completion of the sale, 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. Insiders have sold 45,483 shares of company stock worth $4,123,245 over the last ninety days. Insiders own 2.63% of the company’s stock.

Wall Street Analysts Forecast Growth

GGG has been the topic of a number of analyst reports. Robert W. Baird decreased their price objective on Graco from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Royal Bank of Canada raised their price objective on shares of Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, April 26th. William Blair reaffirmed a “market perform” rating on shares of Graco in a report on Friday, April 26th. Finally, Jefferies Financial Group lifted their price objective on Graco from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $88.25.

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.