Greenleaf Trust Decreases Position in Graco Inc. (NYSE:GGG)

Greenleaf Trust lessened its stake in shares of Graco Inc. (NYSE:GGG) by 14.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,366 shares of the industrial products company’s stock after selling 591 shares during the quarter. Greenleaf Trust’s holdings in Graco were worth $295,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. PineStone Asset Management Inc. boosted its stake in shares of Graco by 134.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock worth $330,532,000 after purchasing an additional 2,390,602 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Graco by 5.6% during the second quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company’s stock valued at $137,361,000 after buying an additional 91,794 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Graco by 14.5% during the 1st quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock worth $134,618,000 after acquiring an additional 182,470 shares during the last quarter. Flossbach Von Storch AG bought a new stake in shares of Graco during the 1st quarter worth approximately $111,428,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Graco by 32.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,069,292 shares of the industrial products company’s stock valued at $84,775,000 after acquiring an additional 259,819 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GGG. Royal Bank of Canada lowered their target price on shares of Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday. Robert W. Baird cut their price target on Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, DA Davidson restated a “neutral” rating and issued a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $89.25.

Graco Stock Down 0.2 %

Graco stock opened at $82.14 on Friday. Graco Inc. has a twelve month low of $70.80 and a twelve month high of $94.77. The business has a fifty day moving average of $83.93 and a two-hundred day moving average of $82.65. The firm has a market cap of $13.88 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.82 and a beta of 0.81.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Graco had a return on equity of 22.40% and a net margin of 23.16%. The company had revenue of $519.21 million for the quarter, compared to analysts’ expectations of $538.19 million. During the same quarter last year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts expect that Graco Inc. will post 2.98 earnings per share for the current year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be paid a $0.255 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.02 annualized dividend and a yield of 1.24%. Graco’s dividend payout ratio (DPR) is 35.29%.

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.