J.P. Morgan Private Wealth Advisors LLC Sells 2,149 Shares of Graco Inc. (NYSE:GGG)

J.P. Morgan Private Wealth Advisors LLC decreased its holdings in Graco Inc. (NYSE:GGGFree Report) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,790 shares of the industrial products company’s stock after selling 2,149 shares during the period. J.P. Morgan Private Wealth Advisors LLC’s holdings in Graco were worth $1,369,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GGG. Moneta Group Investment Advisors LLC increased its stake in shares of Graco by 102,901.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,793,696 shares of the industrial products company’s stock worth $322,424,000 after purchasing an additional 4,789,042 shares in the last quarter. Morgan Stanley grew its stake in 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 acquiring an additional 2,718,018 shares in the last quarter. PineStone Asset Management Inc. grew its stake in Graco by 251.2% during the third quarter. PineStone Asset Management Inc. now owns 2,619,979 shares of the industrial products company’s stock valued at $190,944,000 after acquiring an additional 1,873,902 shares in the last quarter. BlackRock Inc. grew its stake in 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 acquiring an additional 1,739,458 shares in the last quarter. Finally, Norges Bank purchased a new position in Graco during the fourth quarter valued at approximately $116,116,000. Hedge funds and other institutional investors own 84.94% of the company’s stock.

Insider Transactions at Graco

In other news, EVP Kathryn L. Schoenrock sold 392 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $80.79, for a total value of $31,669.68. Following the completion of the sale, the executive vice president now directly owns 5,059 shares in the company, valued at approximately $408,716.61. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Kathryn L. Schoenrock sold 392 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $80.79, for a total value of $31,669.68. Following the completion of the sale, the executive vice president now directly owns 5,059 shares in the company, valued at approximately $408,716.61. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Caroline M. Chambers sold 12,992 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $80.59, for a total transaction of $1,047,025.28. Following the completion of the sale, the insider now owns 56,409 shares of the company’s stock, valued at $4,546,001.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,024 shares of company stock worth $2,645,923. 2.98% of the stock is currently owned by insiders.

Graco Price Performance

GGG stock opened at $88.16 on Monday. Graco Inc. has a one year low of $66.17 and a one year high of $88.31. The stock has a market cap of $14.88 billion, a PE ratio of 29.99, a P/E/G ratio of 2.81 and a beta of 0.81. The firm has a 50 day simple moving average of $84.94 and a two-hundred day simple moving average of $79.37.

Graco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Monday, January 22nd were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from Graco’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, January 19th. Graco’s payout ratio is presently 34.69%.

Wall Street Analyst Weigh In

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

Check Out Our Latest Research Report on Graco

Graco Profile

(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.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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