Covestor Ltd Has $215,000 Stock Holdings in Graco Inc. (NYSE:GGG)

Covestor Ltd raised its stake in Graco Inc. (NYSE:GGG) by 17.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,454 shares of the industrial products company’s stock after buying an additional 368 shares during the period. Covestor Ltd’s holdings in Graco were worth $215,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. V Square Quantitative Management LLC grew its position in Graco by 5.5% during the 2nd quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock worth $183,000 after acquiring an additional 120 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Graco by 3.1% in the third quarter. Ballentine Partners LLC now owns 4,222 shares of the industrial products company’s stock valued at $369,000 after buying an additional 128 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Graco by 7.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock valued at $161,000 after buying an additional 134 shares during the last quarter. iA Global Asset Management Inc. boosted its position in Graco by 8.8% during the 2nd quarter. iA Global Asset Management Inc. now owns 1,687 shares of the industrial products company’s stock worth $134,000 after buying an additional 136 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Graco by 6.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock worth $190,000 after acquiring an additional 141 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Insider Transactions at Graco

In related news, insider David J. Thompson sold 3,216 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was 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 approximately $2,406,094.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.63% of the company’s stock.

Graco Stock Performance

GGG stock opened at $87.81 on Friday. Graco Inc. has a fifty-two week low of $76.28 and a fifty-two week high of $94.77. The stock’s 50 day simple moving average is $84.38 and its 200 day simple moving average is $82.28. The company has a market cap of $14.83 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 3.04 and a beta of 0.82.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05). The business had revenue of $519.21 million for the quarter, compared to analyst estimates of $538.19 million. Graco had a return on equity of 21.24% and a net margin of 22.87%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 EPS. Equities analysts predict that Graco Inc. will post 2.92 earnings per share for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were paid a dividend of $0.255 per share. The ex-dividend date was Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a yield of 1.16%. Graco’s dividend payout ratio (DPR) is currently 36.04%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GGG. 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. DA Davidson restated a “neutral” rating and set a $79.00 target price on shares of Graco in a research report on Friday, September 27th. Finally, Robert W. Baird lowered their target price on Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Graco presently has an average rating of “Hold” and an average target price of $89.25.

About Graco

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.