Graco (NYSE:GGG) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Graco Inc. (NYSE:GGG)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $83.95 and traded as high as $84.23. Graco shares last traded at $83.77, with a volume of 354,606 shares changing hands.

Wall Street Analysts Forecast Growth

GGG has been the subject of several research reports. Robert W. Baird cut their target price on shares of Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. BNP Paribas upgraded Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research report on Thursday, December 19th. DA Davidson restated a “neutral” rating and issued a $79.00 target price on shares of Graco in a research report on Friday, September 27th. Finally, Royal Bank of Canada decreased their price target on shares of Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $92.40.

Graco Stock Performance

The company’s 50-day simple moving average is $87.02 and its two-hundred day simple moving average is $83.95. The firm has a market cap of $14.14 billion, a PE ratio of 29.60, a PEG ratio of 3.11 and a beta of 0.83.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). The business had revenue of $519.21 million during the quarter, compared to the consensus estimate of $538.19 million. Graco had a return on equity of 21.24% and a net margin of 22.87%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. On average, analysts expect that Graco Inc. will post 2.89 EPS for the current year.

Graco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Monday, January 20th will be issued a $0.275 dividend. The ex-dividend date is Friday, January 17th. This represents a $1.10 annualized dividend and a yield of 1.31%. This is a boost from Graco’s previous quarterly dividend of $0.26. Graco’s payout ratio is 38.87%.

Insider Buying and Selling at Graco

In other Graco news, insider Caroline M. Chambers sold 8,280 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $90.57, for a total transaction of $749,919.60. Following the transaction, the insider now owns 57,612 shares in the company, valued at approximately $5,217,918.84. This represents a 12.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $90.30, for a total value of $137,888.10. Following the completion of the transaction, the executive vice president now owns 6,374 shares of the company’s stock, valued at approximately $575,572.20. The trade was a 19.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,098 shares of company stock valued at $2,776,150. 2.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Graco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in Graco by 4.0% during the 2nd quarter. Van ECK Associates Corp now owns 30,504 shares of the industrial products company’s stock valued at $2,418,000 after acquiring an additional 1,180 shares during the period. Confluence Wealth Services Inc. purchased a new stake in shares of Graco in the 2nd quarter worth approximately $294,000. Montag A & Associates Inc. raised its stake in Graco by 6.2% during the second quarter. Montag A & Associates Inc. now owns 18,720 shares of the industrial products company’s stock valued at $1,484,000 after buying an additional 1,095 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in Graco in the second quarter worth $204,000. Finally, Stiles Financial Services Inc grew its stake in shares of Graco by 3.4% in the second quarter. Stiles Financial Services Inc now owns 16,454 shares of the industrial products company’s stock worth $1,305,000 after acquiring an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

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.