Graco Inc. (NYSE:GGG) Stock Position Lifted by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Graco Inc. (NYSE:GGG) by 32.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,702 shares of the industrial products company’s stock after purchasing an additional 4,322 shares during the quarter. Cerity Partners LLC’s holdings in Graco were worth $1,524,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in shares of Graco during the 4th quarter valued at about $25,000. TD Private Client Wealth LLC lifted its holdings in shares of Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 190 shares during the last quarter. National Pension Service acquired a new position in Graco during the 4th quarter valued at approximately $34,000. Whipplewood Advisors LLC acquired a new stake in Graco in the fourth quarter worth $37,000. Finally, Brooklyn Investment Group boosted its holdings in shares of Graco by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Trading Up 0.2 %

Shares of Graco stock opened at $78.59 on Friday. The company’s 50-day moving average price is $83.17 and its two-hundred day moving average price is $84.96. The stock has a market cap of $13.21 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. On average, equities analysts predict that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, April 14th. Graco’s dividend payout ratio (DPR) is currently 39.01%.

Wall Street Analyst Weigh In

GGG has been the topic of several recent research reports. BNP Paribas upgraded shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research report on Thursday, December 19th. DA Davidson set a $85.00 target price on Graco in a research report on Friday, January 31st. Finally, Royal Bank of Canada increased their price target on Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.00.

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.