Skandinaviska Enskilda Banken AB publ Sells 119,359 Shares of Graco Inc. (NYSE:GGG)

Skandinaviska Enskilda Banken AB publ lowered its holdings in shares of Graco Inc. (NYSE:GGG) by 38.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 187,245 shares of the industrial products company’s stock after selling 119,359 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.11% of Graco worth $15,686,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GGG. Assetmark Inc. raised its stake in shares of Graco by 11.1% during the third quarter. Assetmark Inc. now owns 16,700 shares of the industrial products company’s stock valued at $1,461,000 after acquiring an additional 1,662 shares during the last quarter. Atria Investments Inc raised its stake in shares of Graco by 17.6% during the third quarter. Atria Investments Inc now owns 18,053 shares of the industrial products company’s stock valued at $1,580,000 after acquiring an additional 2,708 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Graco by 498.2% during the third quarter. Venturi Wealth Management LLC now owns 1,687 shares of the industrial products company’s stock valued at $148,000 after acquiring an additional 1,405 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Graco by 2.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 328,306 shares of the industrial products company’s stock valued at $28,730,000 after acquiring an additional 8,485 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Graco by 2.6% during the third quarter. Victory Capital Management Inc. now owns 142,918 shares of the industrial products company’s stock valued at $12,507,000 after acquiring an additional 3,608 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Trading Down 1.3 %

NYSE:GGG opened at $82.64 on Friday. The stock has a market capitalization of $14.01 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.85 and a beta of 0.83. The firm has a fifty day simple moving average of $84.89 and a two-hundred day simple moving average of $85.46. Graco Inc. has a 12 month low of $77.49 and a 12 month high of $94.77.

Graco (NYSE:GGG) last posted 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%. Equities analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Monday, April 14th. Graco’s payout ratio is 39.01%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GGG. DA Davidson set a $85.00 price objective on shares of Graco in a research report on Friday, January 31st. Royal Bank of Canada increased their price objective 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. Finally, BNP Paribas upgraded shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.