Graco (NYSE:GGG) Upgraded at BNP Paribas

BNP Paribas upgraded shares of Graco (NYSE:GGG) from a neutral rating to an outperform rating in a research note published on Thursday, MarketBeat reports. The firm currently has $105.00 price objective on the industrial products company’s stock.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Robert W. Baird cut their price objective on Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $79.00 price target on shares of Graco in a research report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $92.40.

Graco Stock Performance

Shares of NYSE:GGG opened at $84.71 on Thursday. Graco has a 52-week low of $77.49 and a 52-week high of $94.77. The company has a market capitalization of $14.30 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 3.11 and a beta of 0.83. The company has a fifty day moving average of $87.18 and a 200-day moving average of $83.70.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $519.21 million during the quarter, compared to the consensus estimate of $538.19 million. Graco had a net margin of 22.87% and a return on equity of 21.24%. Graco’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. On average, equities analysts forecast that Graco will post 2.89 EPS for the current fiscal year.

Graco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Monday, January 20th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, January 17th. This is a boost from Graco’s previous quarterly dividend of $0.26. Graco’s dividend payout ratio (DPR) is 38.87%.

Insider Transactions at Graco

In related news, insider David J. Thompson sold 3,216 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $88.31, for a total value of $284,004.96. Following the sale, the insider now owns 27,246 shares in the company, valued at $2,406,094.26. This represents a 10.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Peter J. O’shea sold 18,075 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $88.76, for a total transaction of $1,604,337.00. Following the completion of the transaction, the insider now directly owns 14,516 shares in the company, valued at approximately $1,288,440.16. The trade was a 55.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,098 shares of company stock valued at $2,776,150 over the last ninety days. 2.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Graco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in shares of Graco by 220.9% in the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 475 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its position in Graco by 15.1% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 30,646 shares of the industrial products company’s stock worth $2,430,000 after purchasing an additional 4,032 shares in the last quarter. &PARTNERS purchased a new stake in Graco in the 2nd quarter valued at about $673,000. First Merchants Corp lifted its position in shares of Graco by 8.1% during the 2nd quarter. First Merchants Corp now owns 85,129 shares of the industrial products company’s stock worth $6,749,000 after buying an additional 6,370 shares in the last quarter. Finally, Institute for Wealth Management LLC. purchased a new position in shares of Graco in the 2nd quarter worth approximately $220,000. 93.88% of the stock is 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 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.