Deutsche Bank AG Has $31.31 Million Position in Graco Inc. (NYSE:GGG)

Deutsche Bank AG decreased its holdings in shares of Graco Inc. (NYSE:GGG) by 4.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 374,913 shares of the industrial products company’s stock after selling 18,483 shares during the quarter. Deutsche Bank AG owned approximately 0.22% of Graco worth $31,309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in shares of Graco by 2.7% in the first quarter. Principal Financial Group Inc. now owns 2,390,940 shares of the industrial products company’s stock valued at $199,667,000 after purchasing an additional 62,761 shares during the period. Northern Trust Corp grew its stake in Graco by 36.7% in the 4th quarter. Northern Trust Corp now owns 1,929,952 shares of the industrial products company’s stock valued at $162,676,000 after buying an additional 518,462 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Graco by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,497,164 shares of the industrial products company’s stock valued at $126,196,000 after buying an additional 486,277 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Graco by 7.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,033 shares of the industrial products company’s stock valued at $100,392,000 after acquiring an additional 79,881 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Graco by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,166,270 shares of the industrial products company’s stock worth $98,305,000 after acquiring an additional 65,399 shares during the last quarter. 93.88% of the stock is owned by institutional investors.

Graco Stock Up 2.6%

NYSE GGG opened at $85.31 on Wednesday. The firm has a 50-day moving average price of $85.56 and a two-hundred day moving average price of $84.08. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86. The company has a market capitalization of $14.13 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.81 and a beta of 1.04.

Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $571.81 million during the quarter, compared to analyst estimates of $590.57 million. Graco had a net margin of 22.26% and a return on equity of 19.05%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Equities analysts expect that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, July 21st. Graco’s dividend payout ratio is 39.01%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GGG. Wolfe Research initiated coverage on Graco in a report on Wednesday, June 18th. They set an “outperform” rating for the company. Robert W. Baird lifted their price target on Graco from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.50.

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.