Lecap Asset Management Ltd. Makes New $571,000 Investment in Graco Inc. $GGG

Lecap Asset Management Ltd. purchased a new stake in Graco Inc. (NYSE:GGG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,970 shares of the industrial products company’s stock, valued at approximately $571,000.

Several other institutional investors have also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Graco by 1.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 95,572 shares of the industrial products company’s stock worth $8,097,000 after purchasing an additional 1,464 shares in the last quarter. AE Wealth Management LLC grew its stake in shares of Graco by 32.7% in the 4th quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock valued at $32,652,000 after buying an additional 98,141 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Graco by 35.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,073 shares of the industrial products company’s stock valued at $334,000 after buying an additional 1,075 shares in the last quarter. Taylor Frigon Capital Management LLC increased its position in Graco by 8.1% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 19,526 shares of the industrial products company’s stock valued at $1,601,000 after buying an additional 1,459 shares in the last quarter. Finally, Third View Private Wealth LLC acquired a new position in Graco during the 4th quarter worth approximately $237,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GGG. Robert W. Baird set a $96.00 price target on Graco in a report on Wednesday, January 28th. DA Davidson restated a “neutral” rating and set a $85.00 price objective on shares of Graco in a report on Monday, February 2nd. Weiss Ratings upgraded Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Royal Bank Of Canada lifted their price target on shares of Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group boosted their price target on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Graco has an average rating of “Moderate Buy” and an average price target of $96.50.

Graco Trading Up 0.1%

GGG stock opened at $86.87 on Monday. The stock has a market cap of $14.40 billion, a P/E ratio of 28.11, a P/E/G ratio of 2.72 and a beta of 1.09. The stock’s fifty day simple moving average is $88.85 and its two-hundred day simple moving average is $85.46. Graco Inc. has a 1-year low of $75.91 and a 1-year high of $95.69.

Graco (NYSE:GGG) last announced its earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $593.16 million during the quarter, compared to analyst estimates of $591.99 million. Graco had a return on equity of 19.49% and a net margin of 23.33%.The business’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. As a group, analysts forecast that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be given a $0.295 dividend. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.18 annualized dividend and a yield of 1.4%. Graco’s payout ratio is currently 38.19%.

Insider Activity at Graco

In other news, EVP Kathryn L. Schoenrock sold 2,223 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $88.06, for a total transaction of $195,757.38. Following the completion of the sale, the executive vice president owned 7,846 shares in the company, valued at $690,918.76. This trade represents a 22.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timothy R. White sold 1,469 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total value of $133,238.30. Following the completion of the transaction, the insider owned 51,430 shares in the company, valued at approximately $4,664,701. The trade was a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 19,394 shares of company stock worth $1,739,326. Insiders own 2.18% of the company’s stock.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.