K.J. Harrison & Partners Inc Sells 1,000 Shares of Graco Inc. $GGG

K.J. Harrison & Partners Inc trimmed its stake in shares of Graco Inc. (NYSE:GGG) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,980 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Graco were worth $1,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GGG. eCIO Inc. bought a new stake in shares of Graco in the 1st quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Graco by 41.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock worth $41,000 after buying an additional 141 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of Graco in the 1st quarter worth approximately $41,000. Geneos Wealth Management Inc. grew its position in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after buying an additional 452 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of Graco in the 2nd quarter worth approximately $51,000. 93.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GGG has been the topic of several research reports. Robert W. Baird set a $89.00 price target on Graco in a research report on Friday, October 24th. Weiss Ratings lowered Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, KeyCorp restated a “sector weight” rating on shares of Graco in a research report on Thursday, October 23rd. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.00.

Graco Trading Up 1.4%

Shares of NYSE:GGG opened at $81.77 on Monday. The stock has a fifty day simple moving average of $83.91 and a two-hundred day simple moving average of $84.38. The stock has a market capitalization of $13.56 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.71 and a beta of 1.07. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The company had revenue of $543.36 million for the quarter, compared to analysts’ expectations of $563.07 million. Graco had a net margin of 22.72% and a return on equity of 18.89%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, equities research analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Monday, October 20th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, October 20th. Graco’s dividend payout ratio is 37.54%.

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.