Whittier Trust Co. Has $15.58 Million Holdings in Graco Inc. (NYSE:GGG)

by · The Cerbat Gem

Whittier Trust Co. boosted its holdings in Graco Inc. (NYSE:GGG – Free Report) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,062 shares of the industrial products company’s stock after acquiring an additional 7,093 shares during the period. Whittier Trust Co. owned 0.11% of Graco worth $15,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Gradient Investments LLC acquired a new stake in shares of Graco during the 2nd quarter worth $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Graco during the 1st quarter worth $43,000. UMB Bank n.a. boosted its stake in Graco by 187.8% in the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock valued at $43,000 after buying an additional 323 shares in the last quarter. Blue Trust Inc. raised its stake 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 in the last quarter. Finally, Tobam lifted its holdings in shares of Graco by 90.2% in the first quarter. Tobam now owns 601 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GGG shares. Royal Bank of Canada lowered their price target on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Robert W. Baird cut their price target on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, DA Davidson reiterated a “neutral” rating and issued a $79.00 price target on shares of Graco in a research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.25.

Get Our Latest Research Report on GGG

Graco Stock Performance

Shares of NYSE:GGG traded down $0.64 during midday trading on Monday, reaching $85.03. The company’s stock had a trading volume of 301,398 shares, compared to its average volume of 727,703. The firm has a 50 day moving average price of $83.64 and a two-hundred day moving average price of $82.96. Graco Inc. has a fifty-two week low of $69.78 and a fifty-two week high of $94.77. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.88 and a beta of 0.81.

Graco (NYSE:GGG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. The company had revenue of $553.20 million during 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 quarter last year, the firm posted $0.75 EPS. As a group, research analysts anticipate that Graco Inc. will post 2.98 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be given a $0.255 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.02 annualized dividend and a yield of 1.20%. Graco’s payout ratio is 35.17%.

Graco Company Profile

(Free Report)

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.

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