Bellevue Group AG Trims Holdings in Graco Inc. (NYSE:GGG)

Bellevue Group AG lessened its holdings in shares of Graco Inc. (NYSE:GGG) by 31.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,500 shares of the industrial products company’s stock after selling 2,100 shares during the period. Bellevue Group AG’s holdings in Graco were worth $322,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of Graco during the 4th quarter worth approximately $121,178,000. Assenagon Asset Management S.A. purchased a new position in shares of Graco during the 1st quarter worth approximately $100,828,000. BlackRock Inc. grew its holdings in shares of Graco by 5.2% during the 1st quarter. BlackRock Inc. now owns 15,076,493 shares of the industrial products company’s stock worth $1,079,778,000 after acquiring an additional 750,000 shares during the period. WCM Investment Management LLC grew its holdings in shares of Graco by 17.2% during the 4th quarter. WCM Investment Management LLC now owns 4,708,607 shares of the industrial products company’s stock worth $340,668,000 after acquiring an additional 689,880 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Graco by 45.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,690,363 shares of the industrial products company’s stock worth $122,296,000 after acquiring an additional 527,502 shares during the period. Institutional investors own 84.19% of the company’s stock.

A number of research firms have weighed in on GGG. Morgan Stanley upped their target price on Graco from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, April 23rd. Royal Bank of Canada upped their target price on Graco from $81.00 to $89.00 and gave the stock an “outperform” rating in a report on Friday, April 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $76.00.

GGG stock opened at $73.48 on Friday. The company has a market cap of $12.45 billion, a PE ratio of 34.99, a PEG ratio of 3.78 and a beta of 0.59. Graco Inc. has a 12-month low of $45.48 and a 12-month high of $79.37. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.48 and a quick ratio of 2.52. The company has a 50 day simple moving average of $75.51.

Graco (NYSE:GGG) last released its quarterly earnings data on Tuesday, April 20th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The business had revenue of $454.10 million for the quarter, compared to analysts’ expectations of $426.13 million. Graco had a return on equity of 30.60% and a net margin of 20.99%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. As a group, analysts predict that Graco Inc. will post 2.47 EPS for the current year.

In other news, Director Eric Etchart sold 5,100 shares of the stock in a transaction on Thursday, April 22nd. The stock was sold at an average price of $77.20, for a total transaction of $393,720.00. Also, Director Lee R. Mitau sold 18,000 shares of the stock in a transaction on Tuesday, April 27th. The shares were sold at an average price of $77.02, for a total value of $1,386,360.00. Following the transaction, the director now directly owns 184,262 shares in the company, valued at $14,191,859.24. The disclosure for this sale can be found here. Insiders have sold a total of 101,737 shares of company stock worth $7,420,714 over the last three months. Insiders own 3.63% of the company’s stock.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.

Featured Story: Fundamental Analysis – How It Helps Investors

Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG).

Institutional Ownership by Quarter for Graco (NYSE:GGG)

Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.