Kathryn Schoenrock Sells 2,223 Shares of Graco (NYSE:GGG) Stock

Graco Inc. (NYSE:GGG) EVP Kathryn Schoenrock sold 2,223 shares of Graco stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the sale, the executive vice president owned 7,846 shares in the company, valued at $690,918.76. This represents a 22.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Graco Price Performance

NYSE GGG opened at $92.38 on Friday. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.84. The company has a market capitalization of $15.32 billion, a PE ratio of 29.90, a P/E/G ratio of 2.88 and a beta of 1.08. The company has a fifty day moving average of $84.89 and a two-hundred day moving average of $84.07.

Graco (NYSE:GGG) last posted its earnings results on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. The business had revenue of $593.16 million for the quarter, compared to analysts’ expectations of $591.99 million. Graco had a return on equity of 19.49% and a net margin of 23.33%.The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, research analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Monday, January 19th were issued a $0.295 dividend. The ex-dividend date of this dividend was Friday, January 16th. This is an increase from Graco’s previous quarterly dividend of $0.28. This represents a $1.18 annualized dividend and a dividend yield of 1.3%. Graco’s dividend payout ratio is currently 38.19%.

Graco announced that its board has authorized a stock buyback plan on Friday, December 5th that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Graco

A number of hedge funds have recently added to or reduced their stakes in GGG. Root Financial Partners LLC acquired a new position in Graco during the 3rd quarter worth approximately $29,000. NewSquare Capital LLC boosted its stake in shares of Graco by 320.7% in the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock valued at $30,000 after buying an additional 263 shares in the last quarter. CX Institutional grew its holdings in Graco by 316.7% during the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 361 shares during the period. Assetmark Inc. raised its position in Graco by 42.6% in the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 139 shares in the last quarter. Finally, Field & Main Bank acquired a new stake in Graco in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. DA Davidson reiterated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research report on Monday. Jefferies Financial Group lifted their price objective on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada increased their target price on shares of Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. KeyCorp reissued a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Finally, Robert W. Baird set a $96.00 price objective on Graco in a research note on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.50.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.