State Street Corp Lowers Holdings in Graco Inc. (GGG)

State Street Corp lessened its stake in Graco Inc. (NYSE:GGG) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,459,743 shares of the industrial products company’s stock after selling 5,847 shares during the quarter. State Street Corp owned about 2.61% of Graco worth $159,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Graco by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock valued at $545,481,000 after acquiring an additional 104,725 shares in the last quarter. BlackRock Inc. increased its position in Graco by 1.0% in the 2nd quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock valued at $482,397,000 after acquiring an additional 43,669 shares in the last quarter. Fiera Capital Corp increased its position in Graco by 7.3% in the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after acquiring an additional 206,130 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Graco by 59.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock valued at $61,463,000 after acquiring an additional 244,321 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Graco by 22.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 650,753 shares of the industrial products company’s stock valued at $71,160,000 after acquiring an additional 120,916 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Graco Inc. (NYSE GGG) opened at 125.96 on Friday. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 79.92 and a beta of 1.25. Graco Inc. has a 52 week low of $72.88 and a 52 week high of $126.20. The stock has a 50 day moving average of $121.62 and a 200 day moving average of $111.78.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The company had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that Graco Inc. will post $4.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, October 13th. Graco’s dividend payout ratio is currently 92.90%.

GGG has been the subject of several research reports. BidaskClub cut shares of Graco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Wolfe Research upgraded shares of Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 price objective for the company in a research report on Monday, July 31st. FBR & Co restated a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. Royal Bank Of Canada restated a “hold” rating on shares of Graco in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded 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. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Graco currently has an average rating of “Hold” and an average price target of $110.00.

In other news, VP Karen Park Gallivan sold 12,242 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $1,407,830.00. Following the completion of the transaction, the vice president now owns 27,264 shares of the company’s stock, valued at $3,135,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David M. Ahlers sold 22,500 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $120.01, for a total value of $2,700,225.00. Following the completion of the transaction, the vice president now directly owns 42,047 shares of the company’s stock, valued at approximately $5,046,060.47. The disclosure for this sale can be found here. Insiders sold 66,258 shares of company stock valued at $7,758,089 in the last ninety days. 5.70% of the stock is currently owned by insiders.

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A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Graco by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock valued at $545,481,000 after acquiring an additional 104,725 shares in the last quarter. BlackRock Inc. increased its position in Graco by 1.0% in the 2nd quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock valued at $482,397,000 after acquiring an additional 43,669 shares in the last quarter. Fiera Capital Corp increased its position in Graco by 7.3% in the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after acquiring an additional 206,130 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Graco by 59.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock valued at $61,463,000 after acquiring an additional 244,321 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Graco by 22.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 650,753 shares of the industrial products company’s stock valued at $71,160,000 after acquiring an additional 120,916 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Graco Inc. (NYSE GGG) opened at 125.96 on Friday. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 79.92 and a beta of 1.25. Graco Inc. has a 52 week low of $72.88 and a 52 week high of $126.20. The stock has a 50 day moving average of $121.62 and a 200 day moving average of $111.78.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The company had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that Graco Inc. will post $4.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, October 13th. Graco’s dividend payout ratio is currently 92.90%.

GGG has been the subject of several research reports. BidaskClub cut shares of Graco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Wolfe Research upgraded shares of Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 price objective for the company in a research report on Monday, July 31st. FBR & Co restated a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. Royal Bank Of Canada restated a “hold” rating on shares of Graco in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded 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. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Graco currently has an average rating of “Hold” and an average price target of $110.00.

In other news, VP Karen Park Gallivan sold 12,242 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $1,407,830.00. Following the completion of the transaction, the vice president now owns 27,264 shares of the company’s stock, valued at $3,135,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David M. Ahlers sold 22,500 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $120.01, for a total value of $2,700,225.00. Following the completion of the transaction, the vice president now directly owns 42,047 shares of the company’s stock, valued at approximately $5,046,060.47. The disclosure for this sale can be found here. Insiders sold 66,258 shares of company stock valued at $7,758,089 in the last ninety days. 5.70% of the stock is currently owned by insiders.

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About Graco

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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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