State of Tennessee Treasury Department maintained its position in Graco Inc. (NYSE:GGG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,000 shares of the industrial products company’s stock at the end of the 2nd quarter. State of Tennessee Treasury Department owned 0.07% of Graco worth $4,371,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GGG. BlackRock Inc. raised its position in Graco by 13,639.9% in the 1st quarter. BlackRock Inc. now owns 4,370,674 shares of the industrial products company’s stock valued at $411,455,000 after purchasing an additional 4,338,864 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Graco by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 4,886,860 shares of the industrial products company’s stock worth $460,049,000 after acquiring an additional 309,685 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Graco by 36.5% during the 1st quarter. Bank of New York Mellon Corp now owns 940,408 shares of the industrial products company’s stock worth $88,531,000 after acquiring an additional 251,447 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Graco by 59.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock worth $61,463,000 after acquiring an additional 244,321 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Graco by 1,065.3% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 163,311 shares of the industrial products company’s stock worth $15,374,000 after acquiring an additional 149,297 shares in the last quarter. 86.85% of the stock is currently owned by institutional investors.

Graco Inc. (GGG) opened at 117.23 on Wednesday. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 74.38 and a beta of 1.24. Graco Inc. has a 52-week low of $69.33 and a 52-week high of $118.04. The firm’s 50-day moving average price is $113.67 and its 200 day moving average price is $105.99.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The firm had revenue of $379.50 million for the quarter, compared to analysts’ expectations of $369.36 million. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Graco’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that Graco Inc. will post $4.53 EPS for the current year.

Several equities research analysts have recently weighed in on the company. BidaskClub lowered Graco from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Wolfe Research reissued a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Monday, July 31st. Royal Bank Of Canada reissued a “hold” rating on shares of Graco in a research report on Friday, July 28th. Finally, FBR & Co reissued a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $106.20.

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In other Graco news, VP Karen Park Gallivan sold 12,242 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the sale, the vice president now owns 27,264 shares in the company, valued at $3,135,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David M. Lowe sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $115.50, for a total value of $3,465,000.00. Following the sale, the insider now owns 164,809 shares in the company, valued at approximately $19,035,439.50. The disclosure for this sale can be found here. Insiders have sold 44,242 shares of company stock worth $4,873,050 in the last 90 days. 5.70% of the stock is currently owned by insiders.

About Graco

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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