Argent Trust Co Acquires Shares of 2,661 Graco Inc. (NYSE:GGG)

Argent Trust Co bought a new position in shares of Graco Inc. (NYSE:GGG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,661 shares of the industrial products company’s stock, valued at approximately $224,000.

A number of other large investors have also modified their holdings of the business. Golden State Wealth Management LLC acquired a new position in Graco during the fourth quarter worth $25,000. TD Private Client Wealth LLC boosted its position in shares of Graco by 118.0% during the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 190 shares in the last quarter. National Pension Service acquired a new position in shares of Graco during the 4th quarter worth $34,000. Whipplewood Advisors LLC purchased a new position in shares of Graco in the 4th quarter valued at about $37,000. Finally, Brooklyn Investment Group lifted its stake in shares of Graco by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 136 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Trading Up 2.3 %

NYSE:GGG opened at $79.69 on Friday. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86. The company has a market capitalization of $13.40 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. The firm has a 50-day moving average price of $83.65 and a two-hundred day moving average price of $85.17.

Graco (NYSE:GGG) last issued its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. On average, equities research analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be given a $0.275 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.38%. Graco’s dividend payout ratio is currently 39.01%.

Wall Street Analysts Forecast Growth

GGG has been the topic of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. DA Davidson set a $85.00 price target on Graco in a research note on Friday, January 31st. Finally, BNP Paribas raised Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $93.00.

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.