Raymond James Trust N.A. reduced its stake in Graco Inc. (NYSE:GGG) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,909 shares of the industrial products company’s stock after selling 493 shares during the period. Raymond James Trust N.A.’s holdings in Graco were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. BB&T Corp grew its stake in shares of Graco by 0.4% in the 2nd quarter. BB&T Corp now owns 2,567 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 11 shares during the period. Somerset Trust Co grew its stake in shares of Graco by 0.4% in the 2nd quarter. Somerset Trust Co now owns 5,093 shares of the industrial products company’s stock valued at $557,000 after purchasing an additional 21 shares during the period. BB&T Securities LLC grew its stake in shares of Graco by 0.5% in the 2nd quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock valued at $757,000 after purchasing an additional 36 shares during the period. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Graco by 0.6% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 9,651 shares of the industrial products company’s stock valued at $909,000 after purchasing an additional 54 shares during the period. Finally, Commerce Bank grew its stake in shares of Graco by 1.5% in the 2nd quarter. Commerce Bank now owns 4,038 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 60 shares during the period. Institutional investors own 86.82% of the company’s stock.

Several equities research analysts have recently weighed in on GGG shares. Deutsche Bank AG reiterated a “hold” rating and issued a $110.00 price objective (up from $105.00) on shares of Graco in a research note on Monday, June 5th. BidaskClub lowered Graco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Wolfe Research upgraded Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 price objective on the stock in a research note on Monday, July 31st. FBR & Co reiterated a “marketperform” rating on shares of Graco in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $104.00 price objective on shares of Graco in a research note on Monday, June 5th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $106.20.

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In other Graco news, Director Eric Etchart sold 757 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $119.20, for a total transaction of $90,234.40. Following the completion of the transaction, the director now directly owns 12,464 shares in the company, valued at $1,485,708.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the transaction, the vice president now owns 27,264 shares of the company’s stock, valued at $3,135,360. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,499 shares of company stock valued at $7,663,509. Company insiders own 5.70% of the company’s stock.

Shares of Graco Inc. (GGG) opened at 120.64 on Tuesday. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 76.55 and a beta of 1.24. The company’s 50-day moving average price is $114.90 and its 200-day moving average price is $106.94. Graco Inc. has a 52-week low of $69.33 and a 52-week high of $121.61.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The business had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. During the same period in the previous year, the business earned $0.89 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that Graco Inc. will post $4.53 EPS for the current fiscal year.

Graco Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

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