Graco Inc. (NYSE:GGG) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank boosted its stake in shares of Graco Inc. (NYSE:GGG) by 23.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,132 shares of the industrial products company’s stock after purchasing an additional 5,161 shares during the quarter. Toronto Dominion Bank’s holdings in Graco were worth $2,374,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in Graco by 220.9% during the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 475 shares during the period. Gradient Investments LLC purchased a new stake in Graco in the 2nd quarter worth approximately $27,000. Raymond James & Associates grew its stake in shares of Graco by 8.8% during the 2nd quarter. Raymond James & Associates now owns 354,159 shares of the industrial products company’s stock worth $28,078,000 after purchasing an additional 28,693 shares during the period. Chevy Chase Trust Holdings LLC increased its holdings in shares of Graco by 15.1% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 30,646 shares of the industrial products company’s stock valued at $2,430,000 after purchasing an additional 4,032 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Graco in the 2nd quarter valued at $481,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Stock Down 0.8 %

GGG opened at $87.93 on Monday. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 3.11 and a beta of 0.83. The firm’s fifty day simple moving average is $87.21 and its two-hundred day simple moving average is $83.55. Graco Inc. has a 52-week low of $77.49 and a 52-week high of $94.77.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). Graco had a return on equity of 21.24% and a net margin of 22.87%. The firm had revenue of $519.21 million during the quarter, compared to analyst estimates of $538.19 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. On average, research analysts forecast that Graco Inc. will post 2.89 EPS for the current year.

Graco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Monday, January 20th will be paid a $0.275 dividend. This is an increase from Graco’s previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, January 17th. Graco’s dividend payout ratio is currently 38.87%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Robert W. Baird dropped their price target on shares of Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada dropped their target price on Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $79.00 price target on shares of Graco in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $89.25.

Insider Buying and Selling at Graco

In related news, insider Peter J. O’shea sold 18,075 shares of Graco stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $88.76, for a total transaction of $1,604,337.00. Following the transaction, the insider now owns 14,516 shares in the company, valued at approximately $1,288,440.16. This trade represents a 55.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $90.30, for a total value of $137,888.10. Following the transaction, the executive vice president now directly owns 6,374 shares in the company, valued at $575,572.20. This trade represents a 19.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,098 shares of company stock worth $2,776,150. Corporate insiders own 2.63% 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.