AIA Group Ltd Acquires 5,604 Shares of Graco Inc. (NYSE:GGG)

AIA Group Ltd increased its holdings in Graco Inc. (NYSE:GGG) by 76.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,937 shares of the industrial products company’s stock after purchasing an additional 5,604 shares during the quarter. AIA Group Ltd’s holdings in Graco were worth $1,122,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Tandem Investment Advisors Inc. bought a new stake in shares of Graco in the fourth quarter worth $208,000. Daiwa Securities Group Inc. grew its stake in shares of Graco by 13.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 17,100 shares of the industrial products company’s stock worth $1,484,000 after purchasing an additional 2,000 shares during the last quarter. Strs Ohio grew its stake in shares of Graco by 3.9% in the fourth quarter. Strs Ohio now owns 24,205 shares of the industrial products company’s stock worth $2,100,000 after purchasing an additional 913 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Graco in the fourth quarter worth $656,000. Finally, Louisiana State Employees Retirement System bought a new stake in Graco during the fourth quarter valued at $4,112,000. Institutional investors own 93.88% of the company’s stock.

Graco Price Performance

GGG stock opened at $88.42 on Friday. The stock has a market capitalization of $14.90 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.81 and a beta of 0.81. The company’s 50-day moving average is $91.19 and its 200-day moving average is $84.46. Graco Inc. has a 1 year low of $68.78 and a 1 year high of $94.77.

Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The company had revenue of $566.64 million for the quarter, compared to analysts’ expectations of $565.86 million. Graco had a net margin of 23.07% and a return on equity of 24.61%. On average, analysts anticipate that Graco Inc. will post 3.14 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.255 per share. The ex-dividend date is Friday, April 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.15%. Graco’s dividend payout ratio (DPR) is presently 34.69%.

Insider Buying and Selling

In related news, VP Angela F. Wordell sold 3,588 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total value of $335,836.80. Following the sale, the vice president now owns 12,725 shares in the company, valued at approximately $1,191,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Angela F. Wordell sold 3,588 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total value of $335,836.80. Following the sale, the vice president now owns 12,725 shares in the company, valued at approximately $1,191,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christian E. Rothe sold 15,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $90.04, for a total transaction of $1,350,600.00. Following the completion of the sale, the insider now owns 25,583 shares in the company, valued at approximately $2,303,493.32. The disclosure for this sale can be found here. Insiders have sold 48,378 shares of company stock worth $4,376,528 in the last quarter. Insiders own 2.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group upped their price target on shares of Graco from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Royal Bank of Canada upped their price target on shares of Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, StockNews.com raised shares of Graco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.80.

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.