Resonant Capital Advisors LLC grew its stake in shares of Graco Inc. (NYSE:GGG – Free Report) by 19.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,954 shares of the industrial products company’s stock after purchasing an additional 476 shares during the period. Resonant Capital Advisors LLC’s holdings in Graco were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in GGG. Gradient Investments LLC acquired a new position in shares of Graco during the second quarter valued at about $27,000. Rise Advisors LLC acquired a new position in shares of Graco during the first quarter valued at about $38,000. New Covenant Trust Company N.A. acquired a new position in shares of Graco during the first quarter valued at about $43,000. Northwest Financial Advisors acquired a new position in shares of Graco during the fourth quarter valued at about $50,000. Finally, Blue Trust Inc. raised 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 valued at $55,000 after purchasing an additional 475 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.
Graco Stock Performance
Shares of GGG stock opened at $81.63 on Wednesday. Graco Inc. has a 52-week low of $69.78 and a 52-week high of $94.77. The company has a 50-day simple moving average of $81.10 and a two-hundred day simple moving average of $84.57. The company has a market capitalization of $13.81 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.80 and a beta of 0.82.
Graco Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, July 22nd. Graco’s payout ratio is 35.17%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. DA Davidson lowered their target price on shares of Graco from $82.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada lowered their target price on shares of Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, StockNews.com lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $86.80.
View Our Latest Stock Report on Graco
About Graco
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.
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