Graco (NYSE:GGG) Rating Reiterated by DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Graco (NYSE:GGG) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $79.00 price objective on the industrial products company’s stock.

Several other research analysts have also commented on the company. Robert W. Baird reduced their price target on Graco from $87.00 to $86.00 and set a neutral rating for the company in a research report on Friday, July 26th. StockNews.com downgraded shares of Graco from a buy rating to a hold rating in a report on Wednesday, June 12th. Finally, Royal Bank of Canada lowered their price target on shares of Graco from $99.00 to $96.00 and set an outperform rating on the stock in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Graco presently has an average rating of Hold and a consensus price target of $86.80.

Graco Price Performance

NYSE:GGG opened at $87.51 on Friday. The firm has a market cap of $14.80 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. The company has a 50-day moving average of $82.45 and a 200 day moving average of $83.59. Graco has a 1-year low of $69.78 and a 1-year high of $94.77.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $553.20 million for the quarter, compared to the consensus estimate of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. Sell-side analysts anticipate that Graco will post 2.98 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, October 21st. Graco’s dividend payout ratio (DPR) is presently 35.17%.

Hedge Funds Weigh In On Graco

Several hedge funds have recently modified their holdings of GGG. Orion Portfolio Solutions LLC grew its position in Graco by 7.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 14,852 shares of the industrial products company’s stock worth $1,244,000 after purchasing an additional 1,014 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Graco by 10.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,018 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 470 shares during the period. Treasurer of the State of North Carolina raised its stake in Graco by 4.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 76,482 shares of the industrial products company’s stock worth $6,636,000 after acquiring an additional 3,083 shares during the last quarter. TFO Wealth Partners LLC lifted its position in Graco by 22,385.7% during the 4th quarter. TFO Wealth Partners LLC now owns 1,574 shares of the industrial products company’s stock worth $137,000 after acquiring an additional 1,567 shares during the period. Finally, Roundview Capital LLC grew its stake in Graco by 43.2% during the 4th quarter. Roundview Capital LLC now owns 6,177 shares of the industrial products company’s stock valued at $536,000 after purchasing an additional 1,864 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Company 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.