State of New Jersey Common Pension Fund D Trims Holdings in Graco Inc. (NYSE:GGG)

State of New Jersey Common Pension Fund D cut its position in shares of Graco Inc. (NYSE:GGG) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,905 shares of the industrial products company’s stock after selling 1,116 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Graco were worth $4,628,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in Graco in the 4th quarter worth approximately $25,000. Brooklyn Investment Group purchased a new position in shares of Graco during the 3rd quarter worth $30,000. Eastern Bank acquired a new stake in shares of Graco during the third quarter worth $59,000. MilWealth Group LLC purchased a new stake in shares of Graco in the fourth quarter valued at $63,000. Finally, UMB Bank n.a. increased its stake in Graco by 93.1% in the fourth quarter. UMB Bank n.a. now owns 956 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 461 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Price Performance

Shares of NYSE:GGG opened at $87.18 on Thursday. The business has a 50-day moving average of $84.68 and a two-hundred day moving average of $84.88. The firm has a market capitalization of $14.72 billion, a PE ratio of 30.91, a P/E/G ratio of 2.80 and a beta of 0.84. Graco Inc. has a 12 month low of $77.49 and a 12 month high of $94.77.

Graco (NYSE:GGG) last posted its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. As a group, research analysts anticipate that Graco Inc. will post 3.07 earnings per share for the current year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.26%. Graco’s dividend payout ratio (DPR) is currently 39.01%.

Insider Activity at Graco

In related news, EVP Kathryn L. Schoenrock sold 1,527 shares of Graco stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $90.30, for a total transaction of $137,888.10. Following the sale, the executive vice president now owns 6,374 shares of the company’s stock, valued at $575,572.20. The trade was a 19.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Caroline M. Chambers sold 8,280 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $90.57, for a total transaction of $749,919.60. Following the completion of the transaction, the insider now directly owns 57,612 shares of the company’s stock, valued at approximately $5,217,918.84. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Robert W. Baird decreased their price target on Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. BNP Paribas raised shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 target price on the stock in a research report on Thursday, December 19th. Finally, Royal Bank of Canada boosted their target price on shares of Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $91.50.

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.