7,614 Shares in Graco Inc. $GGG Purchased by Brighton Jones LLC

Brighton Jones LLC acquired a new position in shares of Graco Inc. (NYSE:GGG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,614 shares of the industrial products company’s stock, valued at approximately $585,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Graco during the 2nd quarter valued at $1,396,470,000. Amundi raised its position in shares of Graco by 7.5% in the 2nd quarter. Amundi now owns 2,090,184 shares of the industrial products company’s stock valued at $158,039,000 after buying an additional 146,032 shares in the last quarter. Caisse de depot et placement du Quebec acquired a new stake in shares of Graco during the 2nd quarter worth approximately $141,667,000. First Trust Advisors LP boosted its position in shares of Graco by 4.2% during the 1st quarter. First Trust Advisors LP now owns 1,535,923 shares of the industrial products company’s stock worth $130,016,000 after acquiring an additional 61,706 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Graco by 51.8% during the 1st quarter. Hsbc Holdings PLC now owns 1,194,254 shares of the industrial products company’s stock worth $101,061,000 after acquiring an additional 407,557 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Stock Up 0.0%

Shares of NYSE:GGG opened at $72.44 on Friday. Graco Inc. has a 52-week low of $65.96 and a 52-week high of $95.69. The company has a market capitalization of $11.62 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.24 and a current ratio of 2.12. The company has a fifty day moving average of $75.09 and a 200-day moving average of $80.23.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, October 21st. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The firm had revenue of $586.39 million during the quarter, compared to analyst estimates of $590.17 million. Graco had a return on equity of 20.13% and a net margin of 22.40%. Graco’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 EPS. On average, equities analysts predict that Graco Inc. will post 3.20 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 4th. Stockholders of record on Monday, October 19th were paid a $0.2950 dividend. The ex-dividend date of this dividend was Monday, October 19th. This represents a $1.18 annualized dividend and a dividend yield of 1.6%. Graco’s dividend payout ratio is currently 37.94%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GGG shares. BNP Paribas Exane decreased their price target on Graco from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $82.00 target price (down from $95.00) on shares of Graco in a research report on Friday, October 23rd. Robert W. Baird set a $80.00 target price on Graco in a research note on Friday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Graco in a report on Monday, November 2nd. Finally, DA Davidson restated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $87.40.

About Graco

Graco Inc. designs, manufactures and markets equipment used to move, measure, control, dispense and spray fluid and coating materials. Its products include pumps, meters, fluid-handling systems and spray equipment used with paints, coatings, sealants, lubricants and other materials. The company serves customers in industrial and process markets, as well as contractors working in areas such as painting, building maintenance and surface preparation. Graco sells its products worldwide through a network that includes distributors and direct sales.