Graco Inc. (NYSE:GGG) Shares Acquired by Glenmede Trust Co. NA

Glenmede Trust Co. NA grew its holdings in Graco Inc. (NYSE:GGG) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,561 shares of the industrial products company’s stock after buying an additional 543 shares during the quarter. Glenmede Trust Co. NA’s holdings in Graco were worth $924,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. M&G Plc boosted its position in shares of Graco by 2.0% during the 2nd quarter. M&G Plc now owns 483,535 shares of the industrial products company’s stock worth $38,199,000 after purchasing an additional 9,673 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Graco by 254.8% during the third quarter. Natixis Advisors LLC now owns 195,533 shares of the industrial products company’s stock worth $17,111,000 after buying an additional 140,417 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Graco by 2.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 328,306 shares of the industrial products company’s stock worth $28,730,000 after buying an additional 8,485 shares during the period. KBC Group NV increased its holdings in Graco by 25.8% in the third quarter. KBC Group NV now owns 31,991 shares of the industrial products company’s stock valued at $2,800,000 after buying an additional 6,571 shares in the last quarter. Finally, Private Wealth Partners LLC acquired a new stake in shares of Graco during the 3rd quarter valued at approximately $876,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GGG has been the topic of a number of research reports. Royal Bank of Canada lowered their price target on Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. DA Davidson reaffirmed a “neutral” rating and set a $79.00 price target on shares of Graco in a research note on Friday, September 27th. Finally, Robert W. Baird decreased their price objective on shares of Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Graco has a consensus rating of “Hold” and an average price target of $89.25.

Graco Stock Down 0.4 %

NYSE GGG opened at $90.72 on Tuesday. Graco Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $94.77. The business has a fifty day moving average of $86.53 and a 200-day moving average of $83.00. The stock has a market cap of $15.32 billion, a price-to-earnings ratio of 32.06, a price-to-earnings-growth ratio of 3.15 and a beta of 0.82.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The company had revenue of $519.21 million for the quarter, compared to analysts’ expectations of $538.19 million. Graco had a return on equity of 21.24% and a net margin of 22.87%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 EPS. As a group, analysts anticipate that Graco Inc. will post 2.89 EPS for the current year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Monday, October 21st. Graco’s payout ratio is 36.04%.

Insider Buying and Selling

In other Graco news, insider David J. Thompson sold 3,216 shares of Graco stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $88.31, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $90.30, for a total transaction of $137,888.10. Following the transaction, the executive vice president now owns 6,374 shares in the company, valued at approximately $575,572.20. The trade was a 19.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,818 shares of company stock worth $2,026,230. 2.63% of the stock is owned by insiders.

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.