Graco Inc. $GGG Shares Sold by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC lessened its stake in shares of Graco Inc. (NYSE:GGG) by 30.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,992 shares of the industrial products company’s stock after selling 11,180 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Graco were worth $1,920,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Krilogy Financial LLC acquired a new position in shares of Graco in the third quarter worth $612,000. NorthCrest Asset Manangement LLC acquired a new position in Graco in the 3rd quarter valued at about $498,000. GAMMA Investing LLC lifted its holdings in Graco by 24.2% in the 3rd quarter. GAMMA Investing LLC now owns 5,219 shares of the industrial products company’s stock valued at $401,000 after purchasing an additional 1,016 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Graco by 30.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,043 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 1,398 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new stake in shares of Graco during the 3rd quarter worth about $186,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Performance

Shares of NYSE:GGG traded up $0.98 during mid-day trading on Thursday, hitting $81.46. 474,724 shares of the company traded hands, compared to its average volume of 1,412,023. The firm has a market cap of $13.19 billion, a P/E ratio of 25.62, a PEG ratio of 2.48 and a beta of 0.89. Graco Inc. has a 52-week low of $72.51 and a 52-week high of $95.69. The firm’s 50 day simple moving average is $78.95 and its 200 day simple moving average is $78.62.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. Graco had a net margin of 23.53% and a return on equity of 19.54%. The company had revenue of $590.55 million during the quarter, compared to the consensus estimate of $608.06 million. During the same quarter last year, the company earned $0.75 earnings per share. Graco’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that Graco Inc. will post 3.22 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Monday, October 19th will be issued a $0.2950 dividend. The ex-dividend date is Monday, October 19th. This represents a $1.18 dividend on an annualized basis and a yield of 1.4%. Graco’s payout ratio is currently 37.11%.

Analysts Set New Price Targets

GGG has been the subject of several analyst reports. Royal Bank Of Canada cut their price target on Graco from $96.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday. Robert W. Baird set a $94.00 price target on Graco in a research note on Friday, July 24th. Weiss Ratings upgraded Graco from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Wolfe Research cut Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Finally, DA Davidson reissued a “neutral” rating and set a $85.00 target price on shares of Graco in a research report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $94.75.

Graco Profile

Graco Inc is a Minneapolis-based manufacturer of equipment used to manage, measure, control and apply fluids and coatings. Its products are used in industrial, commercial and residential applications, including fluid handling, lubrication, dispensing, sealing, bonding, painting and corrosion protection.

The company’s product portfolio includes pumps, valves, meters, regulators, controls, proportioning systems and spray equipment. Graco also supplies equipment for paint and texture application, protective coatings, sealants and adhesives, vehicle servicing, and the automated lubrication of machinery.