Graco Inc. $GGG Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in Graco Inc. (NYSE:GGG) by 12.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,550 shares of the industrial products company’s stock after selling 20,828 shares during the quarter. New York State Teachers Retirement System’s holdings in Graco were worth $12,829,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GGG. Mercer Global Advisors Inc. ADV boosted its stake in shares of Graco by 0.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock valued at $1,745,000 after purchasing an additional 109 shares during the period. Stonebridge Capital Advisors LLC increased its stake in Graco by 0.3% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after buying an additional 119 shares during the period. ICW Investment Advisors LLC lifted its holdings in Graco by 5.2% in the 2nd quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company’s stock worth $234,000 after buying an additional 135 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Graco by 5.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company’s stock valued at $231,000 after buying an additional 139 shares during the last quarter. Finally, Root Financial Partners LLC grew its stake in shares of Graco by 43.2% during the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 152 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insider Transactions at Graco

In other Graco news, Director Andrea Helen Simon acquired 1,240 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was purchased at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the acquisition, the director directly owned 1,240 shares in the company, valued at $99,857.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.18% of the stock is owned by company insiders.

Graco Stock Performance

Shares of GGG stock opened at $75.22 on Monday. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 2.42 and a beta of 0.93. Graco Inc. has a one year low of $73.15 and a one year high of $95.69. The company’s 50-day simple moving average is $76.31 and its 200-day simple moving average is $83.53.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. During the same quarter in the previous year, the company earned $0.70 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts forecast that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a dividend of $0.295 per share. The ex-dividend date is Monday, July 20th. This represents a $1.18 annualized dividend and a yield of 1.6%. Graco’s dividend payout ratio (DPR) is 38.44%.

Analyst Ratings Changes

Several research analysts recently commented on GGG shares. Weiss Ratings cut Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. Robert W. Baird dropped their price objective on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $94.25.

Graco Company Profile

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.