Resonant Capital Advisors LLC Has $234,000 Stock Position in Graco Inc. (NYSE:GGG)

Resonant Capital Advisors LLC grew its stake in shares of Graco Inc. (NYSE:GGG) by 19.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,954 shares of the industrial products company’s stock after purchasing an additional 476 shares during the period. Resonant Capital Advisors LLC’s holdings in Graco were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GGG. Gradient Investments LLC acquired a new position in shares of Graco during the second quarter valued at about $27,000. Rise Advisors LLC acquired a new position in shares of Graco during the first quarter valued at about $38,000. New Covenant Trust Company N.A. acquired a new position in shares of Graco during the first quarter valued at about $43,000. Northwest Financial Advisors acquired a new position in shares of Graco during the fourth quarter valued at about $50,000. Finally, Blue Trust Inc. raised its holdings in shares of Graco by 220.9% during the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 475 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Performance

Shares of GGG stock opened at $81.63 on Wednesday. Graco Inc. has a 52-week low of $69.78 and a 52-week high of $94.77. The company has a 50-day simple moving average of $81.10 and a two-hundred day simple moving average of $84.57. The company has a market capitalization of $13.81 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.80 and a beta of 0.82.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Graco had a net margin of 23.16% and a return on equity of 22.40%. The business had revenue of $553.20 million during the quarter, compared to the consensus estimate of $562.27 million. During the same period in the prior year, the firm posted $0.75 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that Graco Inc. will post 2.98 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, July 22nd. Graco’s payout ratio is 35.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. DA Davidson lowered their target price on shares of Graco from $82.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada lowered their target price on shares of Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, StockNews.com lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $86.80.

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.