Alliancebernstein L.P. lifted its stake in Graco Inc. (NYSE:GGG) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,873 shares of the industrial products company’s stock after purchasing an additional 970 shares during the period. Alliancebernstein L.P. owned 0.06% of Graco worth $3,811,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GGG. UBS Asset Management Americas Inc. lifted its position in shares of Graco by 20.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 57,561 shares of the industrial products company’s stock worth $5,419,000 after purchasing an additional 9,862 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Graco in the 1st quarter worth about $1,118,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Graco by 33.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,100 shares of the industrial products company’s stock worth $574,000 after purchasing an additional 1,538 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Graco by 3.5% in the 1st quarter. JPMorgan Chase & Co. now owns 282,064 shares of the industrial products company’s stock worth $26,552,000 after purchasing an additional 9,455 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Graco by 171.0% in the 1st quarter. SG Americas Securities LLC now owns 12,126 shares of the industrial products company’s stock worth $1,142,000 after purchasing an additional 7,652 shares during the period. 86.82% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on GGG shares. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research report on Monday, July 31st. Wolfe Research raised shares of Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 price target for the company in a research report on Monday, July 31st. FBR & Co reissued a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. Royal Bank Of Canada reissued a “hold” rating on shares of Graco in a research report on Friday, July 28th. Finally, Robert W. Baird reissued a “hold” rating and set a $129.00 price target on shares of Graco in a research report on Wednesday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Graco currently has a consensus rating of “Hold” and a consensus price target of $110.00.

Shares of Graco Inc. (NYSE GGG) opened at 124.92 on Friday. The firm’s 50-day moving average is $118.49 and its 200-day moving average is $109.72. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 79.26 and a beta of 1.25. Graco Inc. has a 1-year low of $69.33 and a 1-year high of $125.55.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. The firm had revenue of $379.50 million during the quarter, compared to analyst estimates of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. Graco’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. Analysts forecast that Graco Inc. will post $4.54 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 16th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, October 13th. Graco’s payout ratio is currently 92.90%.

In related news, Director Eric Etchart sold 757 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $119.20, for a total value of $90,234.40. Following the transaction, the director now owns 12,464 shares in the company, valued at approximately $1,485,708.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Karen Park Gallivan sold 12,242 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the completion of the transaction, the vice president now owns 27,264 shares in the company, valued at approximately $3,135,360. The disclosure for this sale can be found here. Insiders sold a total of 68,258 shares of company stock valued at $7,758,309 over the last ninety days. 5.70% of the stock is currently owned by insiders.

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Graco Company Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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