AdvisorNet Financial Inc Has $127,000 Stock Position in Graco Inc. (NYSE:GGG)

AdvisorNet Financial Inc lowered its position in Graco Inc. (NYSE:GGGFree Report) by 14.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,468 shares of the industrial products company’s stock after selling 241 shares during the period. AdvisorNet Financial Inc’s holdings in Graco were worth $127,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GGG. Sound Income Strategies LLC bought a new position in Graco in the fourth quarter worth approximately $28,000. Fortitude Family Office LLC bought a new position in Graco in the fourth quarter worth approximately $29,000. Money Concepts Capital Corp boosted its holdings in Graco by 569.7% in the fourth quarter. Money Concepts Capital Corp now owns 509 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 433 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in Graco in the second quarter worth approximately $35,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in Graco by 141.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 607 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 356 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GGG. Jefferies Financial Group increased their price target on Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. StockNews.com upgraded Graco from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Royal Bank of Canada raised their target price on Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.80.

Read Our Latest Stock Analysis on Graco

Graco Trading Up 0.3 %

Shares of Graco stock opened at $92.11 on Thursday. The business’s fifty day simple moving average is $90.24 and its 200 day simple moving average is $83.13. The firm has a market capitalization of $15.52 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 2.94 and a beta of 0.81. Graco Inc. has a 12 month low of $68.76 and a 12 month high of $94.77.

Graco (NYSE:GGGGet Free Report) last issued its quarterly earnings results on Monday, January 29th. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $566.64 million for the quarter, compared to analyst estimates of $565.86 million. Graco had a return on equity of 24.61% and a net margin of 23.07%. Analysts predict that Graco Inc. will post 3.14 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.02 dividend on an annualized basis and a yield of 1.11%. Graco’s dividend payout ratio (DPR) is currently 34.69%.

Insider Buying and Selling

In related news, VP Angela F. Wordell sold 3,588 shares of Graco stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total transaction of $335,836.80. Following the sale, the vice president now directly owns 12,725 shares in the company, valued at $1,191,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Graco news, insider Timothy R. White sold 2,500 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $92.82, for a total value of $232,050.00. Following the sale, the insider now directly owns 48,282 shares in the company, valued at $4,481,535.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Angela F. Wordell sold 3,588 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total value of $335,836.80. Following the completion of the sale, the vice president now owns 12,725 shares in the company, valued at $1,191,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,262 shares of company stock worth $5,450,667. 2.63% of the stock is owned by company insiders.

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 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.

Further Reading

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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