Chevy Chase Trust Holdings LLC Acquires 744 Shares of Graco Inc. $GGG

Chevy Chase Trust Holdings LLC increased its holdings in Graco Inc. (NYSE:GGG) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,812 shares of the industrial products company’s stock after purchasing an additional 744 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Graco were worth $4,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in Graco by 41.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 141 shares in the last quarter. WCM Investment Management LLC boosted its position in Graco by 0.4% during the 2nd quarter. WCM Investment Management LLC now owns 36,629 shares of the industrial products company’s stock valued at $3,156,000 after acquiring an additional 156 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in Graco by 2.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 6,347 shares of the industrial products company’s stock valued at $530,000 after acquiring an additional 169 shares in the last quarter. Values First Advisors Inc. boosted its position in Graco by 0.8% during the 1st quarter. Values First Advisors Inc. now owns 23,084 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 180 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its position in Graco by 5.5% during the 1st quarter. Resonant Capital Advisors LLC now owns 3,843 shares of the industrial products company’s stock valued at $321,000 after acquiring an additional 202 shares in the last quarter. 93.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Graco in a research report on Wednesday, October 8th. Robert W. Baird lifted their target price on shares of Graco from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Graco currently has a consensus rating of “Moderate Buy” and an average target price of $94.50.

Graco Stock Performance

GGG stock opened at $82.38 on Tuesday. The firm has a 50 day moving average price of $84.60 and a 200-day moving average price of $84.07. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $92.86. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 2.77 and a beta of 1.07.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The business had revenue of $571.81 million for the quarter, compared to analysts’ expectations of $590.57 million. During the same quarter in the previous year, the business posted $0.77 earnings per share. Graco’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Monday, October 20th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, October 20th. Graco’s payout ratio is presently 39.01%.

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.