SunTrust Banks Reiterates “Hold” Rating for Graco (GGG)
SunTrust Banks reaffirmed their hold rating on shares of Graco (NYSE:GGG) in a research note published on Wednesday morning. The firm currently has a $45.00 price objective on the industrial products company’s stock. SunTrust Banks also issued estimates for Graco’s Q1 2018 earnings at $0.40 EPS, Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.75 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.50 EPS, Q3 2019 earnings at $0.50 EPS, Q4 2019 earnings at $0.45 EPS and FY2019 earnings at $1.88 EPS.
GGG has been the subject of several other reports. Royal Bank of Canada restated a hold rating and issued a $49.00 price objective on shares of Graco in a report on Thursday, January 4th. FBR & Co set a $46.67 price objective on shares of Graco and gave the stock a hold rating in a report on Thursday, October 26th. Oppenheimer restated a hold rating on shares of Graco in a report on Thursday, December 28th. Zacks Investment Research lowered shares of Graco from a hold rating to a sell rating in a report on Wednesday, December 27th. Finally, B. Riley increased their price target on shares of Graco from $47.00 to $50.00 and gave the stock a neutral rating in a research note on Tuesday, January 30th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $47.33.
Graco (NYSE:GGG) opened at $45.28 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.46. Graco has a 1-year low of $29.59 and a 1-year high of $49.69. The company has a market cap of $7,620.00, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.48 and a beta of 1.15.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Monday, January 22nd will be paid a $0.3975 dividend. This represents a $1.59 annualized dividend and a dividend yield of 3.51%. This is a positive change from Graco’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, January 19th. Graco’s dividend payout ratio (DPR) is presently 36.55%.
In related news, insider Daniel Stolyarov sold 500,000 shares of the 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, VP Caroline M. Chambers sold 10,000 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $131.56, for a total transaction of $1,315,600.00. Following the completion of the transaction, the vice president now owns 15,191 shares of the company’s stock, valued at $1,998,527.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 644,652 shares of company stock valued at $14,474,502. 5.70% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of GGG. Meeder Asset Management Inc. increased its stake in Graco by 53.5% during the 4th quarter. Meeder Asset Management Inc. now owns 3,174 shares of the industrial products company’s stock valued at $144,000 after purchasing an additional 1,106 shares in the last quarter. Hexavest Inc. increased its stake in Graco by 200.0% during the 4th quarter. Hexavest Inc. now owns 4,200 shares of the industrial products company’s stock valued at $190,000 after purchasing an additional 2,800 shares in the last quarter. Fiduciary Trust Co. bought a new stake in Graco during the 4th quarter valued at about $201,000. Ballentine Partners LLC bought a new stake in Graco during the 3rd quarter valued at about $210,000. Finally, Boston Private Wealth LLC bought a new stake in Graco during the 3rd quarter valued at about $210,000. Institutional investors own 31.46% of the company’s stock.
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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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