Secure Asset Management LLC Sells 11,511 Shares of Graco Inc. (NYSE:GGG)

Secure Asset Management LLC lessened its position in shares of Graco Inc. (NYSE:GGG) by 49.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,001 shares of the industrial products company’s stock after selling 11,511 shares during the period. Secure Asset Management LLC’s holdings in Graco were worth $1,050,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Gradient Investments LLC bought a new position in Graco during the second quarter worth $27,000. New Covenant Trust Company N.A. acquired a new stake in Graco in the first quarter worth $43,000. UMB Bank n.a. grew its holdings in Graco by 187.8% in the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 323 shares during the period. Blue Trust Inc. grew its holdings in Graco by 220.9% in the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 475 shares during the period. Finally, Tobam grew its holdings in Graco by 90.2% in the first quarter. Tobam now owns 601 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 285 shares during the period. Institutional investors own 93.88% of the company’s stock.

Graco Price Performance

Shares of NYSE GGG opened at $85.92 on Friday. The stock has a market capitalization of $14.53 billion, a P/E ratio of 29.63, a P/E/G ratio of 2.88 and a beta of 0.81. The company has a 50-day moving average price of $83.64 and a 200-day moving average price of $83.02. Graco Inc. has a 1 year low of $69.78 and a 1 year high of $94.77.

Graco (NYSE:GGG) last issued 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 during the quarter, compared to analysts’ expectations of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. As a group, equities research analysts anticipate that Graco Inc. will post 2.98 earnings per share for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Monday, October 21st. Graco’s payout ratio is 35.17%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GGG. Robert W. Baird reduced their price target on shares of Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Royal Bank of Canada reduced 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. Finally, DA Davidson restated a “neutral” rating and issued a $79.00 price target on shares of Graco in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Graco has a consensus rating of “Hold” and a consensus price target of $90.25.

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.