First Republic Investment Management Inc. lowered its stake in Graco Inc. (NYSE:GGG) by 26.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,350 shares of the industrial products company’s stock after selling 1,972 shares during the quarter. First Republic Investment Management Inc.’s holdings in Graco were worth $662,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GGG. Schwab Charles Investment Management Inc. grew its position in Graco by 5.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 294,355 shares of the industrial products company’s stock valued at $32,168,000 after purchasing an additional 16,265 shares during the period. Arizona State Retirement System grew its position in Graco by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 23,400 shares of the industrial products company’s stock valued at $2,557,000 after purchasing an additional 100 shares during the period. Teacher Retirement System of Texas grew its position in Graco by 1.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,490 shares of the industrial products company’s stock valued at $491,000 after purchasing an additional 80 shares during the period. Wedbush Securities Inc. grew its position in Graco by 12.5% in the 2nd quarter. Wedbush Securities Inc. now owns 2,954 shares of the industrial products company’s stock valued at $323,000 after purchasing an additional 329 shares during the period. Finally, Advisors Asset Management Inc. grew its position in Graco by 106.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 578 shares during the period. Institutional investors own 86.27% of the company’s stock.

Graco Inc. (GGG) traded up $4.11 on Friday, reaching $134.87. 475,419 shares of the company’s stock were exchanged, compared to its average volume of 218,427. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. The stock has a market cap of $7,339.56, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 2.86 and a beta of 1.23. Graco Inc. has a 1 year low of $82.42 and a 1 year high of $136.15.

Graco’s stock is going to split on Thursday, December 28th. The 3-1 split was announced on Friday, December 8th. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, December 27th.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.09. The firm had revenue of $379.81 million for the quarter, compared to the consensus estimate of $356.30 million. Graco had a net margin of 7.72% and a return on equity of 42.05%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS. sell-side analysts forecast that Graco Inc. will post 4.36 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Monday, January 22nd will be issued a $0.3975 dividend. This is an increase from Graco’s previous quarterly dividend of $0.36. This represents a $1.59 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, January 19th. Graco’s payout ratio is 75.79%.

A number of equities analysts have issued reports on GGG shares. BidaskClub raised shares of Graco from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Robert W. Baird reaffirmed a “hold” rating and set a $129.00 price objective on shares of Graco in a report on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of Graco in a report on Friday, October 20th. FBR & Co set a $140.00 price objective on shares of Graco and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $128.00 price objective on shares of Graco in a report on Friday, October 27th. Twelve investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $117.75.

In related news, insider Daniel Stolyarov sold 500,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $0.11, for a total value of $55,000.00. Also, Director Eric Etchart sold 759 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $124.90, for a total transaction of $94,799.10. Following the completion of the transaction, the director now directly owns 11,983 shares in the company, valued at $1,496,676.70. The disclosure for this sale can be found here. Insiders sold a total of 708,511 shares of company stock worth $17,080,399 over the last three months. 5.70% of the stock is owned by insiders.

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About Graco

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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