Raymond James Financial Services Advisors Inc. increased its holdings in Graco Inc. (NYSE:GGG) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,211 shares of the industrial products company’s stock after buying an additional 413 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Graco were worth $892,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Koch Industries Inc. acquired a new position in Graco in the 2nd quarter valued at about $582,000. Janus Henderson Group PLC acquired a new position in Graco in the 2nd quarter valued at about $33,167,000. Fiera Capital Corp raised its stake in Graco by 7.3% in the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after purchasing an additional 206,130 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Graco by 109.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 341,998 shares of the industrial products company’s stock valued at $37,374,000 after purchasing an additional 178,687 shares during the last quarter. Finally, FMR LLC acquired a new position in Graco in the 2nd quarter valued at about $16,392,000. Institutional investors and hedge funds own 86.24% of the company’s stock.
A number of research analysts have recently commented on the stock. SunTrust Banks reaffirmed a “hold” rating and set a $128.00 price objective on shares of Graco in a research note on Friday, October 27th. Robert W. Baird reaffirmed a “hold” rating and set a $135.00 price objective on shares of Graco in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Graco from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. B. Riley reaffirmed a “neutral” rating on shares of Graco in a research note on Wednesday, November 1st. Finally, ValuEngine downgraded shares of Graco from a “buy” rating to a “hold” rating in a research note on Friday. Twelve analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $116.75.
Graco (NYSE:GGG) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.09. The business had revenue of $379.81 million during the quarter, compared to analysts’ expectations of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. research analysts expect that Graco Inc. will post 4.36 earnings per share for the current fiscal year.
In other news, VP David M. Ahlers sold 22,500 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $120.01, for a total transaction of $2,700,225.00. Following the completion of the transaction, the vice president now directly owns 42,047 shares in the company, valued at approximately $5,046,060.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Caroline M. Chambers sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $131.56, for a total value of $1,315,600.00. Following the transaction, the vice president now owns 15,191 shares of the company’s stock, valued at $1,998,527.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 734,018 shares of company stock valued at $19,672,731. 5.70% of the stock is owned by company insiders.
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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.
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