Resonant Capital Advisors LLC Grows Holdings in Graco Inc. (NYSE:GGG)

Resonant Capital Advisors LLC increased its position in Graco Inc. (NYSE:GGG) by 20.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,563 shares of the industrial products company’s stock after buying an additional 609 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Graco were worth $312,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Harfst & Associates Inc. lifted its position in Graco by 34.0% in the 3rd quarter. Harfst & Associates Inc. now owns 22,640 shares of the industrial products company’s stock worth $1,981,000 after buying an additional 5,749 shares during the last quarter. Blue Trust Inc. lifted its position in Graco by 165.1% in the 3rd quarter. Blue Trust Inc. now owns 1,829 shares of the industrial products company’s stock worth $160,000 after buying an additional 1,139 shares during the last quarter. Inspire Advisors LLC bought a new stake in Graco in the 3rd quarter worth approximately $224,000. Trust Point Inc. bought a new stake in Graco in the 3rd quarter worth approximately $231,000. Finally, Claro Advisors LLC increased its holdings in shares of Graco by 60.1% in the third quarter. Claro Advisors LLC now owns 14,264 shares of the industrial products company’s stock worth $1,248,000 after buying an additional 5,352 shares during the period. Institutional investors own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GGG shares. Royal Bank of Canada decreased 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. DA Davidson reiterated a “neutral” rating and issued a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Finally, Robert W. Baird decreased their price objective on Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.25.

Graco Price Performance

GGG opened at $85.92 on Monday. The firm has a market capitalization of $14.53 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.88 and a beta of 0.81. Graco Inc. has a one year low of $69.78 and a one year high of $94.77. The business has a 50 day simple moving average of $83.64 and a two-hundred day simple moving average of $82.96.

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

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.19%. The ex-dividend date is Monday, October 21st. Graco’s dividend payout ratio (DPR) is currently 35.17%.

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.