Graco Inc. (GGG) VP Sells $1,407,830.00 in Stock

Graco Inc. (NYSE:GGG) VP Karen Park Gallivan sold 12,242 shares of Graco stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the completion of the sale, the vice president now owns 27,264 shares of the company’s stock, valued at approximately $3,135,360. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Graco Inc. (NYSE GGG) traded down 0.206% on Tuesday, hitting $113.955. 19,031 shares of the stock were exchanged. Graco Inc. has a one year low of $69.33 and a one year high of $116.75. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 72.306 and a beta of 1.25. The firm’s 50 day moving average price is $110.87 and its 200 day moving average price is $102.74.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The business had revenue of $379.50 million for the quarter, compared to analysts’ expectations of $369.36 million. During the same quarter last year, the company earned $0.89 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts anticipate that Graco Inc. will post $4.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.44 annualized dividend and a yield of 1.26%. Graco’s payout ratio is 92.90%.

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Several brokerages have commented on GGG. Royal Bank Of Canada reissued a “hold” rating and issued a $104.00 price target on shares of Graco in a research report on Monday, June 5th. Wolfe Research reaffirmed a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Monday, July 31st. BidaskClub cut shares of Graco from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $110.00 price objective (up from $105.00) on shares of Graco in a research report on Monday, June 5th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $106.20.

A number of institutional investors have recently added to or reduced their stakes in GGG. The Manufacturers Life Insurance Company boosted its position in Graco by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 81,834 shares of the industrial products company’s stock valued at $8,943,000 after buying an additional 1,017 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in Graco during the second quarter valued at approximately $1,167,000. Janus Henderson Group PLC bought a new position in Graco during the second quarter valued at approximately $33,167,000. Shelton Capital Management bought a new position in Graco during the second quarter valued at approximately $455,000. Finally, Flinton Capital Management LLC boosted its position in Graco by 8.9% in the second quarter. Flinton Capital Management LLC now owns 7,072 shares of the industrial products company’s stock valued at $773,000 after buying an additional 578 shares during the last quarter. 90.10% of the stock is currently owned by hedge funds and other institutional investors.

Graco Company Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.