Graco Inc. $GGG Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in Graco Inc. (NYSE:GGG) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 407,288 shares of the industrial products company’s stock after selling 7,922 shares during the quarter. ProShare Advisors LLC owned about 0.25% of Graco worth $33,385,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. AE Wealth Management LLC boosted its stake in shares of Graco by 32.7% in the fourth quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock valued at $32,652,000 after purchasing an additional 98,141 shares during the period. Raiffeisen Bank International AG grew its holdings in Graco by 191.8% during the 3rd quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company’s stock valued at $744,000 after purchasing an additional 5,790 shares in the last quarter. Swiss Life Asset Management Ltd increased its stake in Graco by 40.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock worth $3,869,000 after buying an additional 13,130 shares during the period. CWA Asset Management Group LLC purchased a new stake in Graco during the 4th quarter worth $3,527,000. Finally, Comerica Bank lifted its holdings in Graco by 54.1% in the 4th quarter. Comerica Bank now owns 172,328 shares of the industrial products company’s stock worth $14,126,000 after buying an additional 60,486 shares in the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Graco

In other news, Director Andrea Helen Simon acquired 1,240 shares of the business’s stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the purchase, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.18% of the stock is owned by insiders.

Graco Price Performance

Shares of GGG stock opened at $75.34 on Thursday. The firm has a fifty day moving average of $83.20 and a two-hundred day moving average of $85.04. The firm has a market cap of $12.50 billion, a P/E ratio of 24.54, a P/E/G ratio of 2.42 and a beta of 0.96. Graco Inc. has a 1-year low of $74.39 and a 1-year high of $95.69.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The company had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. During the same quarter last year, the company posted $0.70 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that Graco Inc. will post 3.12 EPS for the current year.

Wall Street Analysts Forecast Growth

GGG has been the subject of several recent analyst reports. Weiss Ratings downgraded Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. DA Davidson reiterated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Jefferies Financial Group increased their price target on Graco from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. KeyCorp restated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Finally, Robert W. Baird cut their target price on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $94.25.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.