Graco Inc. (NYSE:GGG) Expected to Post Q2 2024 Earnings of $0.77 Per Share

Graco Inc. (NYSE:GGGFree Report) – Seaport Res Ptn reduced their Q2 2024 EPS estimates for shares of Graco in a research report issued to clients and investors on Wednesday, January 31st. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings per share of $0.77 for the quarter, down from their previous estimate of $0.78. The consensus estimate for Graco’s current full-year earnings is $3.18 per share. Seaport Res Ptn also issued estimates for Graco’s Q4 2024 earnings at $0.85 EPS, Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $0.84 EPS, Q3 2025 earnings at $0.89 EPS, Q4 2025 earnings at $0.93 EPS and FY2025 earnings at $3.45 EPS.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their price objective on shares of Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday. BNP Paribas started coverage on shares of Graco in a research report on Thursday, October 5th. They set a “neutral” rating and a $73.00 price objective on the stock. Jefferies Financial Group raised their price objective 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. Finally, StockNews.com raised shares of Graco from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.80.

Check Out Our Latest Report on GGG

Graco Stock Performance

Graco stock opened at $86.57 on Thursday. The firm’s fifty day moving average price is $84.18 and its 200-day moving average price is $79.46. The stock has a market cap of $14.61 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 2.73 and a beta of 0.80. Graco has a fifty-two week low of $66.17 and a fifty-two week high of $87.94.

Hedge Funds Weigh In On Graco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Graco by 10.3% during the second quarter. BlackRock Inc. now owns 18,608,060 shares of the industrial products company’s stock valued at $1,606,806,000 after buying an additional 1,739,458 shares during the period. Vanguard Group Inc. increased its position in shares of Graco by 4.4% during the third quarter. Vanguard Group Inc. now owns 17,085,518 shares of the industrial products company’s stock valued at $1,245,193,000 after buying an additional 726,245 shares during the period. State Street Corp increased its position in shares of Graco by 13.0% during the first quarter. State Street Corp now owns 7,619,918 shares of the industrial products company’s stock valued at $556,330,000 after buying an additional 878,009 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of Graco by 102,901.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,793,696 shares of the industrial products company’s stock valued at $322,424,000 after buying an additional 4,789,042 shares during the period. Finally, Morgan Stanley increased its position in shares of Graco by 156.6% during the fourth quarter. Morgan Stanley now owns 4,453,162 shares of the industrial products company’s stock valued at $299,520,000 after buying an additional 2,718,018 shares during the period. Hedge funds and other institutional investors own 84.94% of the company’s stock.

Insiders Place Their Bets

In other Graco news, insider Caroline M. Chambers sold 12,992 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $80.59, for a total value of $1,047,025.28. Following the transaction, the insider now owns 56,409 shares in the company, valued at $4,546,001.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Graco news, CEO Mark W. Sheahan sold 12,884 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $83.37, for a total value of $1,074,139.08. Following the transaction, the chief executive officer now owns 93,182 shares in the company, valued at $7,768,583.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Caroline M. Chambers sold 12,992 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $80.59, for a total transaction of $1,047,025.28. Following the completion of the transaction, the insider now owns 56,409 shares in the company, valued at approximately $4,546,001.31. The disclosure for this sale can be found here. Insiders have sold a total of 27,734 shares of company stock valued at $2,269,879 in the last quarter. Insiders own 2.98% of the company’s stock.

Graco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Monday, January 22nd will be issued a dividend of $0.255 per share. The ex-dividend date is Friday, January 19th. This represents a $1.02 annualized dividend and a dividend yield of 1.18%. This is a positive change from Graco’s previous quarterly dividend of $0.24. Graco’s dividend payout ratio (DPR) is currently 34.69%.

Graco Company Profile

(Get Free Report)

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.

Featured Stories

Earnings History and Estimates for Graco (NYSE:GGG)

Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.