Brookstone Capital Management Has $886,000 Position in Graco Inc. (NYSE:GGG)

Brookstone Capital Management lessened its position in Graco Inc. (NYSE:GGG) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,123 shares of the industrial products company’s stock after selling 523 shares during the period. Brookstone Capital Management’s holdings in Graco were worth $886,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GGG. SG Americas Securities LLC grew its stake in Graco by 1,010.8% during the first quarter. SG Americas Securities LLC now owns 55,886 shares of the industrial products company’s stock worth $5,223,000 after buying an additional 50,855 shares during the last quarter. Vident Advisory LLC increased its holdings in Graco by 567.4% during the 1st quarter. Vident Advisory LLC now owns 42,899 shares of the industrial products company’s stock valued at $4,009,000 after purchasing an additional 36,471 shares in the last quarter. TD Asset Management Inc raised its position in Graco by 14.5% in the 1st quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock valued at $134,618,000 after purchasing an additional 182,470 shares during the last quarter. M&G Plc boosted its stake in Graco by 2.0% in the second quarter. M&G Plc now owns 483,535 shares of the industrial products company’s stock worth $38,199,000 after purchasing an additional 9,673 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Graco by 2.9% during the first quarter. Acadian Asset Management LLC now owns 884,912 shares of the industrial products company’s stock worth $82,683,000 after purchasing an additional 24,827 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Price Performance

Shares of NYSE:GGG opened at $86.30 on Friday. The firm’s 50 day simple moving average is $82.95 and its 200 day simple moving average is $83.19. Graco Inc. has a fifty-two week low of $69.78 and a fifty-two week high of $94.77. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 2.88 and a beta of 0.81.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share 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 company had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $562.27 million. During the same period last year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts expect that Graco Inc. will post 2.98 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be issued a $0.255 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.02 annualized dividend and a dividend yield of 1.18%. Graco’s dividend payout ratio (DPR) is currently 35.17%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GGG shares. DA Davidson reaffirmed a “neutral” rating and issued a $79.00 target price on shares of Graco in a research note on Friday, September 27th. Royal Bank of Canada reduced their price objective on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Robert W. Baird lowered their target price on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Graco has a consensus rating of “Hold” and a consensus target price of $90.25.

Graco Company Profile

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.