Graco Inc. (NYSE:GGG) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. decreased its position in shares of Graco Inc. (NYSE:GGG) by 49.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,625 shares of the industrial products company’s stock after selling 17,335 shares during the quarter. Montag A & Associates Inc.’s holdings in Graco were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tobam boosted its position in shares of Graco by 2,330.8% during the 4th quarter. Tobam now owns 316 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 303 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Graco during the 4th quarter valued at about $28,000. Fortitude Family Office LLC acquired a new position in shares of Graco during the 4th quarter valued at about $29,000. Rise Advisors LLC acquired a new position in Graco in the first quarter valued at about $38,000. Finally, Northwest Financial Advisors acquired a new position in Graco in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on GGG shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $103.00 target price on shares of Graco in a research report on Thursday, June 27th. William Blair reaffirmed a “market perform” rating on shares of Graco in a research report on Friday, April 26th. StockNews.com cut shares of Graco from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Finally, Robert W. Baird decreased their target price on shares of Graco from $90.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Graco presently has a consensus rating of “Hold” and an average price target of $90.75.

Graco Price Performance

Shares of GGG stock traded up $0.67 during trading hours on Monday, reaching $81.87. 210,931 shares of the stock were exchanged, compared to its average volume of 721,267. The business’s fifty day moving average is $80.48 and its two-hundred day moving average is $85.56. Graco Inc. has a 12-month low of $69.78 and a 12-month high of $94.77. The firm has a market capitalization of $13.85 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.67 and a beta of 0.82.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.09). The company had revenue of $492.19 million during the quarter, compared to analysts’ expectations of $536.19 million. Graco had a net margin of 23.15% and a return on equity of 23.01%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. As a group, equities research analysts predict that Graco Inc. will post 3.05 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd will be paid a $0.255 dividend. The ex-dividend date is Monday, July 22nd. This represents a $1.02 annualized dividend and a yield of 1.25%. Graco’s dividend payout ratio is currently 35.17%.

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.