Pictet Asset Management Holding SA Purchases 15,806 Shares of Graco Inc. (NYSE:GGG)

Pictet Asset Management Holding SA increased its position in Graco Inc. (NYSE:GGG) by 18.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,103 shares of the industrial products company’s stock after buying an additional 15,806 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Graco were worth $8,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Graco in the 4th quarter worth approximately $25,000. TD Private Client Wealth LLC raised its position in Graco by 118.0% in 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 during the period. National Pension Service bought a new stake in Graco in the fourth quarter worth $34,000. Whipplewood Advisors LLC purchased a new stake in Graco during the fourth quarter valued at about $37,000. Finally, Brooklyn Investment Group grew its stake in shares of Graco by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock valued at $41,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

NYSE GGG opened at $84.66 on Thursday. Graco Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $93.01. The stock has a market cap of $14.23 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. The stock has a 50 day simple moving average of $84.94 and a two-hundred day simple moving average of $85.66.

Graco (NYSE:GGG) last announced its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 EPS 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%. Sell-side analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Monday, April 14th. Graco’s payout ratio is currently 39.01%.

Analyst Upgrades and Downgrades

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

Graco 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.