Wellington Management Group LLP Has $150.24 Million Stock Holdings in Graco Inc. (NYSE:GGG)

Wellington Management Group LLP reduced its stake in Graco Inc. (NYSE:GGG) by 14.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,782,371 shares of the industrial products company’s stock after selling 304,144 shares during the period. Wellington Management Group LLP’s holdings in Graco were worth $150,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Graco by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 17,141,579 shares of the industrial products company’s stock valued at $1,444,864,000 after buying an additional 183,335 shares during the last quarter. State Street Corp grew its position in shares of Graco by 6.3% in the third quarter. State Street Corp now owns 7,458,988 shares of the industrial products company’s stock valued at $652,736,000 after purchasing an additional 443,141 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Graco by 4.8% during the third quarter. Geode Capital Management LLC now owns 4,152,292 shares of the industrial products company’s stock worth $362,808,000 after purchasing an additional 188,579 shares during the period. PineStone Asset Management Inc. lifted its holdings in Graco by 2.7% during the 4th quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company’s stock worth $244,836,000 after purchasing an additional 76,184 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Graco by 17.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,328,179 shares of the industrial products company’s stock valued at $196,242,000 after purchasing an additional 337,437 shares during the period. 93.88% of the stock is owned by institutional investors.

Graco Stock Up 0.3 %

GGG stock opened at $84.66 on Thursday. The company has a market cap of $14.23 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. Graco Inc. has a 52 week low of $77.49 and a 52 week high of $93.01. The business has a 50-day simple moving average of $84.94 and a 200 day simple moving average of $85.66.

Graco (NYSE:GGG) last issued its earnings results on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. On average, analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.30%. The ex-dividend date is Monday, April 14th. Graco’s payout ratio is presently 39.01%.

Analyst Ratings Changes

Several research analysts have weighed in on GGG shares. BNP Paribas upgraded Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research report on Thursday, December 19th. DA Davidson set a $85.00 price target on shares of Graco in a research report on Friday, January 31st. Finally, Royal Bank of Canada boosted their price objective on shares of Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Graco presently has a consensus rating of “Hold” and a consensus target price 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.