Glenmede Trust Co. NA Boosts Holdings in Graco Inc. (NYSE:GGG)

Glenmede Trust Co. NA raised its stake in shares of Graco Inc. (NYSE:GGG) by 5.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 10,561 shares of the industrial products company’s stock after buying an additional 543 shares during the period. Glenmede Trust Co. NA’s holdings in Graco were worth $924,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GGG. B. Riley Wealth Advisors Inc. lifted its holdings in Graco by 72.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,583 shares of the industrial products company’s stock valued at $428,000 after acquiring an additional 1,931 shares during the period. Virtu Financial LLC acquired a new stake in shares of Graco in the first quarter valued at about $212,000. Cetera Investment Advisers increased its stake in shares of Graco by 209.5% during the first quarter. Cetera Investment Advisers now owns 27,969 shares of the industrial products company’s stock worth $2,614,000 after purchasing an additional 18,931 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Graco by 63.3% during the 1st quarter. Cetera Advisors LLC now owns 6,748 shares of the industrial products company’s stock worth $631,000 after purchasing an additional 2,616 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Graco by 6.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock valued at $190,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insider Activity

In related news, insider Peter J. O’shea sold 18,075 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $88.76, for a total value of $1,604,337.00. Following the completion of the transaction, the insider now directly owns 14,516 shares of the company’s stock, valued at $1,288,440.16. This represents a 55.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $90.30, for a total transaction of $137,888.10. Following the sale, the executive vice president now directly owns 6,374 shares in the company, valued at approximately $575,572.20. The trade was a 19.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,818 shares of company stock worth $2,026,230. 2.63% of the stock is currently owned by corporate insiders.

Graco Trading Down 0.4 %

Shares of NYSE:GGG opened at $90.72 on Tuesday. The company has a market capitalization of $15.32 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 3.15 and a beta of 0.82. Graco Inc. has a 12-month low of $77.49 and a 12-month high of $94.77. The business has a 50-day moving average price of $86.53 and a 200 day moving average price of $83.00.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Graco had a net margin of 22.87% and a return on equity of 21.24%. The firm had revenue of $519.21 million during the quarter, compared to analyst estimates of $538.19 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Graco Inc. will post 2.89 earnings per share for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Monday, October 21st. Graco’s dividend payout ratio is presently 36.04%.

Analyst Upgrades and Downgrades

Several research firms have commented on GGG. Robert W. Baird cut their price objective on Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. DA Davidson reissued a “neutral” rating and issued a $79.00 price objective on shares of Graco in a research note on Friday, September 27th. Finally, Royal Bank of Canada lowered their target price on shares of Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.25.

About Graco

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.