US Bancorp DE Buys 1,230 Shares of Graco Inc. (NYSE:GGG)

US Bancorp DE grew its stake in shares of Graco Inc. (NYSE:GGG) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,127 shares of the industrial products company’s stock after buying an additional 1,230 shares during the period. US Bancorp DE owned approximately 0.13% of Graco worth $18,976,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GGG. Principal Financial Group Inc. boosted its holdings in Graco by 244.4% during the third quarter. Principal Financial Group Inc. now owns 1,990,742 shares of the industrial products company’s stock worth $174,210,000 after buying an additional 1,412,704 shares during the last quarter. Canoe Financial LP boosted its holdings in Graco by 359.2% during the fourth quarter. Canoe Financial LP now owns 640,474 shares of the industrial products company’s stock worth $53,986,000 after buying an additional 501,003 shares during the last quarter. State Street Corp boosted its holdings in Graco by 6.3% during the third quarter. State Street Corp now owns 7,458,988 shares of the industrial products company’s stock worth $652,736,000 after buying an additional 443,141 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Graco by 142.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 652,048 shares of the industrial products company’s stock worth $57,061,000 after buying an additional 383,599 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Graco by 32.0% during the fourth quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company’s stock worth $130,298,000 after buying an additional 374,967 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Price Performance

NYSE GGG opened at $87.13 on Monday. The stock’s 50-day moving average is $84.73 and its 200-day moving average is $85.26. Graco Inc. has a one year low of $77.49 and a one year high of $94.77. The firm has a market cap of $14.77 billion, a P/E ratio of 30.90, a P/E/G ratio of 2.85 and a beta of 0.84.

Graco (NYSE:GGG) last announced its earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. Equities analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Monday, April 14th. Graco’s dividend payout ratio is presently 39.01%.

Wall Street Analysts Forecast Growth

GGG has been the topic of a number of recent analyst reports. DA Davidson set a $85.00 target price on Graco in a report on Friday, January 31st. Royal Bank of Canada raised their price target on Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, BNP Paribas raised Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Thursday, December 19th. Four equities 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, the company presently has a consensus rating of “Hold” and a consensus price target of $93.00.

Insider Activity at Graco

In related news, insider Caroline M. Chambers sold 8,280 shares of Graco stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $90.57, for a total value of $749,919.60. Following the sale, the insider now owns 57,612 shares of the company’s stock, valued at approximately $5,217,918.84. This trade represents a 12.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.63% of the stock is 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.