Sumitomo Mitsui Trust Group Inc. Buys 2,631 Shares of Graco Inc. (NYSE:GGG)

Sumitomo Mitsui Trust Group Inc. lifted its stake in Graco Inc. (NYSE:GGG) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 342,155 shares of the industrial products company’s stock after buying an additional 2,631 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Graco worth $28,573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GGG. TD Private Client Wealth LLC grew its stake 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 valued at $30,000 after purchasing an additional 190 shares during the period. Wood Tarver Financial Group LLC acquired a new position in shares of Graco in the 4th quarter worth approximately $46,000. Golden State Wealth Management LLC raised its position in Graco by 128.9% in the 1st quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 388 shares during the last quarter. Sit Investment Associates Inc. bought a new stake in shares of Graco during the fourth quarter worth $80,000. Finally, USA Financial Formulas lifted its position in Graco by 43.6% during the 1st quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company’s stock worth $88,000 after buying an additional 321 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

Graco Price Performance

Shares of Graco stock opened at $88.44 on Thursday. The company has a market capitalization of $14.78 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 2.97 and a beta of 1.06. The business has a 50-day moving average of $84.44 and a two-hundred day moving average of $83.78. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Graco had a net margin of 22.70% and a return on equity of 19.42%. The firm had revenue of $528.28 million for the quarter, compared to analyst estimates of $526.98 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts anticipate 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, August 6th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, July 21st. Graco’s dividend payout ratio (DPR) is presently 38.87%.

Analysts Set New Price Targets

Separately, Wolfe Research started coverage on Graco in a research report on Wednesday, June 18th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Graco currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Insider Buying and Selling at Graco

In other news, insider David J. Thompson sold 3,588 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total value of $309,393.24. Following the sale, the insider owned 27,520 shares of the company’s stock, valued at $2,373,049.60. The trade was a 11.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.19% of the stock is owned by corporate insiders.

Graco Profile

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.