Swedbank AB Acquires Shares of 11,988 Graco Inc. $GGG

Swedbank AB acquired a new stake in Graco Inc. (NYSE:GGG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,988 shares of the industrial products company’s stock, valued at approximately $983,000.

Other hedge funds also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in shares of Graco during the 3rd quarter worth approximately $29,000. Assetmark Inc. increased its holdings in shares of Graco by 42.6% during the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after buying an additional 139 shares during the last quarter. Field & Main Bank acquired a new stake in shares of Graco during the 4th quarter worth approximately $41,000. Geneos Wealth Management Inc. increased its holdings in shares of Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after buying an additional 452 shares during the last quarter. Finally, Matrix Trust Co increased its holdings in shares of Graco by 43.0% during the 4th quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock worth $45,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Performance

NYSE:GGG opened at $76.11 on Thursday. The stock has a market capitalization of $12.63 billion, a P/E ratio of 24.79, a PEG ratio of 2.45 and a beta of 0.96. The company has a 50 day moving average price of $82.05 and a 200 day moving average price of $84.84. Graco Inc. has a fifty-two week low of $74.24 and a fifty-two week high of $95.69.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird cut their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price target on shares of Graco in a report on Friday, April 24th. Weiss Ratings downgraded shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. DA Davidson restated a “neutral” rating and set a $85.00 price target on shares of Graco in a report on Monday, April 27th. Finally, Jefferies Financial Group raised their price target on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $94.25.

Insider Buying and Selling at Graco

In related news, Director Andrea Helen Simon acquired 1,240 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average price of $80.53 per share, with a total value of $99,857.20. Following the transaction, the director owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.18% of the company’s stock.

Graco Company 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.