Swiss National Bank Has $47.24 Million Position in Graco Inc. (NYSE:GGG)

Swiss National Bank decreased its stake in Graco Inc. (NYSE:GGG) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 505,500 shares of the industrial products company’s stock after selling 23,000 shares during the quarter. Swiss National Bank’s holdings in Graco were worth $47,244,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC boosted its position in Graco by 1.9% during the first quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock valued at $700,000 after purchasing an additional 139 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Graco by 0.3% during the 1st quarter. Spire Wealth Management now owns 66,975 shares of the industrial products company’s stock valued at $6,260,000 after buying an additional 176 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Graco by 24.3% in the 4th quarter. Lindbrook Capital LLC now owns 931 shares of the industrial products company’s stock valued at $81,000 after buying an additional 182 shares in the last quarter. Harvey Investment Co. LLC increased its holdings in Graco by 4.0% in the first quarter. Harvey Investment Co. LLC now owns 5,230 shares of the industrial products company’s stock worth $489,000 after buying an additional 200 shares during the last quarter. Finally, D.B. Root & Company LLC raised its position in Graco by 1.7% during the fourth quarter. D.B. Root & Company LLC now owns 12,421 shares of the industrial products company’s stock valued at $1,078,000 after acquiring an additional 205 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on GGG shares. William Blair reissued a “market perform” rating on shares of Graco in a research report on Friday, April 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $103.00 price objective on shares of Graco in a report on Thursday, June 27th. StockNews.com lowered Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Finally, Robert W. Baird reduced their price target on Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $90.75.

Graco Trading Up 0.7 %

GGG traded up $0.56 during trading on Monday, hitting $81.76. The stock had a trading volume of 27,439 shares, compared to its average volume of 719,872. The firm has a market cap of $13.83 billion, a PE ratio of 28.00, a P/E/G ratio of 2.67 and a beta of 0.82. Graco Inc. has a 12 month low of $69.78 and a 12 month high of $94.77. The company has a 50 day simple moving average of $80.48 and a 200-day simple moving average of $85.56.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Graco had a return on equity of 23.01% and a net margin of 23.15%. The business had revenue of $492.19 million during the quarter, compared to the consensus estimate of $536.19 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Graco Inc. will post 3.05 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Monday, July 22nd will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, July 22nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.25%. Graco’s dividend payout ratio (DPR) is presently 35.17%.

Graco Company 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.