Taylor Frigon Capital Management LLC Reduces Position in Graco Inc. (NYSE:GGG)

Taylor Frigon Capital Management LLC reduced its position in shares of Graco Inc. (NYSE:GGG) by 2.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,154 shares of the industrial products company’s stock after selling 466 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Graco were worth $1,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC raised its stake in shares of Graco by 5.5% during the second quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 120 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Graco by 7.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock worth $161,000 after buying an additional 134 shares during the last quarter. iA Global Asset Management Inc. increased its stake in shares of Graco by 8.8% during the second quarter. iA Global Asset Management Inc. now owns 1,687 shares of the industrial products company’s stock valued at $134,000 after buying an additional 136 shares during the period. Park Avenue Securities LLC raised its holdings in shares of Graco by 1.9% during the first quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock valued at $700,000 after acquiring an additional 139 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Graco by 6.3% in the second quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock worth $190,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. DA Davidson restated a “neutral” rating and issued a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Robert W. Baird cut their price objective on Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, Royal Bank of Canada reduced their target price on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. 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, Graco has a consensus rating of “Hold” and a consensus target price of $90.25.

Graco Price Performance

NYSE GGG traded down $1.14 during trading hours on Thursday, reaching $81.76. 280,696 shares of the company’s stock traded hands, compared to its average volume of 727,339. Graco Inc. has a 52-week low of $69.78 and a 52-week high of $94.77. The firm has a 50-day simple moving average of $83.88 and a 200 day simple moving average of $82.79. The firm has a market cap of $13.83 billion, a PE ratio of 28.58, a PEG ratio of 2.88 and a beta of 0.81.

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

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Monday, October 21st. Graco’s dividend payout ratio is presently 35.17%.

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.