Graco (NYSE:GGG) Issues Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Graco (NYSE:GGGGet Free Report) announced its quarterly earnings results on Monday. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.13), Zacks reports. Graco had a net margin of 22.87% and a return on equity of 21.24%.

Graco Trading Down 3.2 %

GGG opened at $83.22 on Wednesday. The stock has a market capitalization of $14.05 billion, a PE ratio of 29.41, a PEG ratio of 2.81 and a beta of 0.84. Graco has a 1-year low of $77.49 and a 1-year high of $94.77. The firm has a 50-day moving average price of $86.37 and a two-hundred day moving average price of $84.66.

Graco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Monday, January 20th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from Graco’s previous quarterly dividend of $0.26. Graco’s dividend payout ratio (DPR) is presently 38.87%.

Analysts Set New Price Targets

GGG has been the subject of several analyst reports. Royal Bank of Canada lifted their price target on shares of Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Robert W. Baird cut their price target on shares of Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, BNP Paribas upgraded shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $91.50.

View Our Latest Research Report on Graco

Insider Transactions at Graco

In other news, insider David J. Thompson sold 3,216 shares of Graco stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $88.31, for a total transaction of $284,004.96. Following the completion of the sale, the insider now owns 27,246 shares in the company, valued at $2,406,094.26. The trade was a 10.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Caroline M. Chambers sold 8,280 shares of Graco stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $90.57, for a total transaction of $749,919.60. Following the sale, the insider now owns 57,612 shares of the company’s stock, valued at approximately $5,217,918.84. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,098 shares of company stock worth $2,776,150 in the last quarter. 2.63% of the stock is owned by company insiders.

Graco Company Profile

(Get Free Report)

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.

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Earnings History for Graco (NYSE:GGG)

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