Gulf International Bank UK Ltd Reduces Position in Graco Inc. (NYSE:GGG)

Gulf International Bank UK Ltd lowered its position in Graco Inc. (NYSE:GGG) by 5.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,249 shares of the industrial products company’s stock after selling 741 shares during the period. Gulf International Bank UK Ltd’s holdings in Graco were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Gradient Investments LLC acquired a new stake in Graco during the 2nd quarter worth $27,000. New Covenant Trust Company N.A. purchased a new stake in shares of Graco in the first quarter valued at about $43,000. UMB Bank n.a. boosted its stake in shares of Graco by 187.8% during the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock worth $43,000 after buying an additional 323 shares during the period. Blue Trust Inc. grew 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 worth $55,000 after buying an additional 475 shares during the last quarter. Finally, Eastern Bank purchased a new stake in Graco during the 3rd quarter valued at approximately $59,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Stock Performance

NYSE:GGG opened at $87.80 on Friday. Graco Inc. has a 1 year low of $76.28 and a 1 year high of $94.77. The stock has a fifty day moving average price of $84.38 and a two-hundred day moving average price of $82.33. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.85 and a beta of 0.82.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). Graco had a net margin of 22.87% and a return on equity of 21.24%. The company had revenue of $519.21 million during the quarter, compared to analyst estimates of $538.19 million. During the same quarter last year, the business earned $0.76 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Graco Inc. will post 2.92 EPS for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a dividend of $0.255 per share. The ex-dividend date was Monday, October 21st. This represents a $1.02 annualized dividend and a yield of 1.16%. Graco’s dividend payout ratio is presently 36.04%.

Insiders Place Their Bets

In other news, insider David J. Thompson sold 3,216 shares of Graco stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total transaction of $284,004.96. Following the completion of the transaction, the insider now owns 27,246 shares of the company’s stock, valued at $2,406,094.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.63% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GGG has been the topic of a number of recent research reports. Royal Bank of Canada dropped their target price on Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Robert W. Baird lowered their price objective on shares of Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, DA Davidson restated a “neutral” rating and set a $79.00 price objective on shares of Graco in a research report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $89.25.

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.