Goldman Sachs Group Inc. Buys 61,596 Shares of Graco Inc. (NYSE:GGG)

Goldman Sachs Group Inc. boosted its stake in Graco Inc. (NYSE:GGG) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 865,152 shares of the industrial products company’s stock after purchasing an additional 61,596 shares during the period. Goldman Sachs Group Inc. owned about 0.52% of Graco worth $44,988,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GGG. grace capital raised its stake in shares of Graco by 3.5% during the fourth quarter. grace capital now owns 6,997 shares of the industrial products company’s stock valued at $364,000 after acquiring an additional 235 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Graco by 1.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 16,650 shares of the industrial products company’s stock valued at $866,000 after acquiring an additional 250 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Graco by 0.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 43,579 shares of the industrial products company’s stock valued at $2,266,000 after acquiring an additional 270 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Graco by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 40,400 shares of the industrial products company’s stock valued at $2,101,000 after acquiring an additional 300 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in shares of Graco by 5.9% during the fourth quarter. Raymond James Trust N.A. now owns 5,985 shares of the industrial products company’s stock valued at $311,000 after acquiring an additional 334 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

GGG has been the subject of several analyst reports. Royal Bank of Canada raised their price target on shares of Graco from $50.00 to $54.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. DA Davidson raised their price target on shares of Graco from $43.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Oppenheimer assumed coverage on shares of Graco in a research note on Tuesday, January 28th. They set a “hold” rating for the company. Robert W. Baird lifted their target price on shares of Graco from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Zacks Investment Research raised shares of Graco from a “sell” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Tuesday, December 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Graco presently has an average rating of “Hold” and a consensus price target of $54.00.

In other Graco news, insider Bernard J. Moreau sold 102,949 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $52.55, for a total value of $5,409,969.95. Following the completion of the sale, the insider now directly owns 56,885 shares in the company, valued at $2,989,306.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter J. O’shea sold 45,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $54.53, for a total transaction of $2,453,850.00. Following the completion of the sale, the insider now owns 70,232 shares of the company’s stock, valued at $3,829,750.96. The disclosure for this sale can be found here. Insiders have sold 389,886 shares of company stock valued at $21,167,849 in the last three months. 4.12% of the stock is owned by insiders.

Shares of NYSE GGG opened at $44.42 on Thursday. Graco Inc. has a twelve month low of $38.43 and a twelve month high of $56.99. The firm has a fifty day simple moving average of $50.73 and a 200 day simple moving average of $49.26. The company has a market capitalization of $7.69 billion, a PE ratio of 24.01, a P/E/G ratio of 2.88 and a beta of 0.92. The company has a quick ratio of 1.82, a current ratio of 2.77 and a debt-to-equity ratio of 0.16.

Graco (NYSE:GGG) last announced its earnings results on Monday, January 27th. The industrial products company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.09. Graco had a net margin of 20.89% and a return on equity of 34.45%. The business had revenue of $412.30 million during the quarter, compared to the consensus estimate of $392.61 million. During the same quarter last year, the firm earned $0.43 earnings per share. Graco’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities analysts expect that Graco Inc. will post 1.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 20th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Friday, April 17th. Graco’s dividend payout ratio is presently 36.84%.

Graco Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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