Cambridge Investment Research Advisors Inc. sells 1,399 shares of Graco Inc. (NYSE:GGG)

Financial Advisors


Cambridge Investment Research Advisors reduced its stake in Graco (NYSE: GGG – Get Rating) by 3.2% during the fourth quarter, according to the company’s latest filings with the SEC. The fund held 42,094 shares in industrial products companies after selling 1,399 shares during the quarter. Graco shares in Cambridge Investment Research Advisors were valued at $2,831,000 at the end of the most recent quarter.

Other big investors have also recently changed their holdings in the company. Cetera Advisor Networks LLC expanded his Graco position by 3.0% in the first quarter. Cetera Advisor Networks LLC acquired an additional 184 shares during the last quarter and now owns 6,270 shares of the industrial products company, valued at $437,000. Banque Montréal Can expanded its position in Graco by 18.1% in the first quarter. After acquiring an additional 13,302 shares during the previous quarter, Kan Bank of Montreal now owns 86,910 shares in the industrial products company, valued at $6,176,000. Great West Life Assurance Co. Can expanded its position in Graco by 8.3% in the first quarter. Great West Life Assurance Co. Can now owns 96,025 shares of the industrial products company, valued at $6,879,000, after acquiring an additional 7,396 shares during the previous quarter. Raymond James Trust NA expanded his Graco position by 8.2% in the first quarter. Raymond James Trust NA now owns 5,834 shares of the industrial products company valued at $407,000 after acquiring an additional 440 shares last quarter. Finally, Vontobel Holding Ltd. expanded his Graco position by 74.3% in the first quarter. Vontobel Holding Ltd. acquired an additional 4,108 shares during the previous quarter and now owns 9,636 shares of the industrial products company, valued at $684,000. Institutional investors own 85.85% of the company’s shares.

Wall Street analyst speaks out

GGG has been the subject of several research analyst reports. Attorney Davidson raised the price target for Graco from $70.00 to $75.00 in an investigative report on Thursday, April 27. StockNews.com downgraded Graco’s rating from ‘buy’ to ‘hold’ in a report on Thursday, April 27. Seaport Res Ptn upgraded Graco’s rating from “neutral” to “buy” in a report on Thursday, February 2nd. Robert W. Baird raised his price target on Graco from $75.00 to $83.00 in a report on Friday, April 28. Finally, Royal Bank of Canada raised its price target on Graco from $82.00 to $89.00 in its report on Friday, April 28. Three analysts rated the stock as a hold, while two analysts rated it as a buy. The company currently has a consensus rating of “Hold” and an average target price of $79.25, according to MarketBeat.com data.

Insider activity

In separate news, Director J Kevin Gilligan sold 16,320 shares in the Monday, May 1st transaction. The shares were sold at an average price of $79.88 for a total of $1,303,641.60. Following the transaction, the directors directly owned 17,462 shares of the company, valued at $1,394,864.56. The sale was disclosed in filings with the Securities and Exchange Commission, which can be accessed on the SEC’s website. In related news, insider Claudio Merengo sold 21,793 shares of the company in a transaction on Monday, May 1. The shares sold at an average price of $80.32 for a total transaction value of $1,750,413.76. After the sale, insiders now directly own 18,286 shares of the company, valued at $1,468,731.52. The deal was disclosed in his SEC filing, which can be accessed via this hyperlink. Director J Kevin Gilligan also sold 16,320 shares in the company in a deal on Monday, May 1. The shares were sold at an average price of $79.88 for a total of $1,303,641.60. After the sale, the directors now directly own 17,462 shares of the company, valued at $1,394,864.56. Disclosure information regarding this sale can be found here. In the past three months, insiders have sold 42,943 shares of the company, valued at $3,433,404. Insiders own 2.98% of the company’s shares.

Graco Trading down 0.4%

NYSE GGG shares opened Friday at $77.14. The company has a debt to equity ratio of 0.04, a current ratio of 3.38 and a quick ratio of 2.07. The company has a market capitalization of $12.99 billion, a price/earnings multiple of 27.16 times, a price/earnings multiple of 2.63 times, and a beta of 0.80 times. Graco hit a one-year low of $56.48 and a one-year high of $80.90. His 50-day moving average price for this company is $71.90 and his 200-day moving average price is $69.98.

Graco (NYSE:GGG – Get Rating) last reported quarterly results on Wednesday, April 26. Industrial companies reported EPS of $0.74 for the quarter, $0.13 above analyst consensus expectations of $0.61. Graco’s return on equity was 26.12% and net profit margin was 22.44%. The company’s revenue for the quarter was $529.65 million, compared with analysts’ expectations of $501.87 million. Earnings per share for the business in the same period last year were $0.57. The company’s revenue increased by 7.2% over the same period last year. Equity research analysts expect Graco’s EPS to hit 2.99 this quarter.

Graco Announces Dividend

The company also recently announced its quarterly dividend, which was paid on Wednesday, May 3rd. A dividend of $0.235 was issued to shareholders of record on Monday, April 17. This equates to his $0.94 dividend and his 1.22% dividend yield on an annualized basis. The ex-dividend date for this dividend was Friday, April 14. Graco’s dividend payout ratio is currently 33.10%.

Graco Company Profile

(get rating)

Graco, Inc is a manufacturing company that designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powdered materials. It operates through industry, process, and contractor segments. The Industrial segment sells equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.

Related item

Graco Quarterly Institutional Ownership (NYSE:GGG)

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