Graco Inc. (NYSE:GGG) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Graco Inc. (NYSE:GGG) by 14.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,716 shares of the industrial products company’s stock after selling 11,474 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Graco were worth $5,792,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Simplicity Wealth LLC increased its holdings in shares of Graco by 2.6% in the fourth quarter. Simplicity Wealth LLC now owns 10,013 shares of the industrial products company’s stock valued at $844,000 after purchasing an additional 258 shares during the period. Dundas Partners LLP grew its position in Graco by 16.9% in the 4th quarter. Dundas Partners LLP now owns 7,208 shares of the industrial products company’s stock valued at $608,000 after buying an additional 1,041 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Graco in the 4th quarter valued at $248,000. Callan Family Office LLC purchased a new position in Graco during the 4th quarter worth $1,302,000. Finally, Candriam S.C.A. raised its position in Graco by 37.8% during the 4th quarter. Candriam S.C.A. now owns 3,282 shares of the industrial products company’s stock worth $277,000 after buying an additional 900 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GGG. Royal Bank of Canada increased their price target on shares of Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. DA Davidson set a $85.00 target price on Graco in a research report on Friday, January 31st. Finally, BNP Paribas raised Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price target for the company in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $93.00.

Graco Trading Up 1.5 %

Shares of Graco stock opened at $83.96 on Friday. The company has a 50-day moving average of $84.87 and a two-hundred day moving average of $85.44. Graco Inc. has a 12-month low of $77.49 and a 12-month high of $94.77. The stock has a market cap of $14.23 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83.

Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. On average, sell-side analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Monday, April 14th. Graco’s dividend payout ratio (DPR) is presently 39.01%.

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.