Graco Inc. $GGG Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its holdings in shares of Graco Inc. (NYSE:GGG) by 1.9% during the fourth quarter, Holdings Channel reports. The firm owned 407,288 shares of the industrial products company’s stock after selling 7,922 shares during the quarter. ProShare Advisors LLC’s holdings in Graco were worth $33,385,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. AE Wealth Management LLC grew its position in shares of Graco by 32.7% during the 4th quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock valued at $32,652,000 after buying an additional 98,141 shares during the last quarter. Raiffeisen Bank International AG lifted its holdings in Graco by 191.8% in the third quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company’s stock worth $744,000 after acquiring an additional 5,790 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Graco by 40.5% in the third quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock worth $3,869,000 after acquiring an additional 13,130 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in Graco in the fourth quarter valued at approximately $3,527,000. Finally, Principal Financial Group Inc. boosted its stake in Graco by 3.2% in the third quarter. Principal Financial Group Inc. now owns 2,458,857 shares of the industrial products company’s stock valued at $208,908,000 after acquiring an additional 75,285 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GGG. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Graco in a research report on Friday, April 24th. Jefferies Financial Group boosted their price objective on Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Robert W. Baird lowered their price objective on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. KeyCorp reaffirmed a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. Finally, Weiss Ratings cut Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Graco presently has an average rating of “Hold” and a consensus price target of $94.25.

Graco Trading Up 0.0%

Shares of NYSE:GGG opened at $75.34 on Thursday. The firm’s 50 day moving average is $83.20 and its two-hundred day moving average is $85.04. The firm has a market capitalization of $12.50 billion, a P/E ratio of 24.54, a PEG ratio of 2.42 and a beta of 0.96. Graco Inc. has a 52 week low of $74.39 and a 52 week high of $95.69.

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

Insiders Place Their Bets

In other Graco news, Director Andrea Helen Simon purchased 1,240 shares of Graco stock in a transaction on Monday, April 27th. The stock was bought at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the transaction, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.18% of the stock is owned by insiders.

Graco Profile

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.