Raymond James Financial Services Advisors Inc. Sells 13,476 Shares of Graco Inc. (NYSE:GGG)

Raymond James Financial Services Advisors Inc. reduced its stake in shares of Graco Inc. (NYSE:GGGGet Rating) by 31.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,053 shares of the industrial products company’s stock after selling 13,476 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Graco were worth $2,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Taylor Hoffman Wealth Management lifted its stake in shares of Graco by 0.4% during the 3rd quarter. Taylor Hoffman Wealth Management now owns 39,207 shares of the industrial products company’s stock valued at $2,350,000 after buying an additional 145 shares in the last quarter. FourThought Financial LLC lifted its stake in shares of Graco by 19.5% during the 3rd quarter. FourThought Financial LLC now owns 1,011 shares of the industrial products company’s stock valued at $61,000 after buying an additional 165 shares in the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of Graco by 3.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 6,270 shares of the industrial products company’s stock valued at $437,000 after buying an additional 184 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Graco by 3.2% during the 1st quarter. SkyView Investment Advisors LLC now owns 6,076 shares of the industrial products company’s stock valued at $563,000 after buying an additional 191 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its stake in shares of Graco by 2.1% during the 1st quarter. Cresset Asset Management LLC now owns 9,444 shares of the industrial products company’s stock valued at $659,000 after buying an additional 193 shares in the last quarter. 85.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GGG shares. Seaport Res Ptn raised shares of Graco from a “neutral” rating to a “buy” rating in a report on Thursday, February 2nd. Robert W. Baird increased their price target on shares of Graco from $75.00 to $83.00 in a report on Friday, April 28th. DA Davidson increased their price target on shares of Graco from $70.00 to $75.00 in a report on Thursday, April 27th. Royal Bank of Canada increased their price target on shares of Graco from $82.00 to $89.00 in a report on Friday, April 28th. Finally, StockNews.com started coverage on shares of Graco in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.25.

Insider Activity at Graco

In related news, insider Claudio Merengo sold 21,793 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $80.32, for a total value of $1,750,413.76. Following the sale, the insider now directly owns 18,286 shares of the company’s stock, valued at $1,468,731.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Graco news, insider Jeffrey P. Johnson sold 4,830 shares of Graco stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $78.54, for a total transaction of $379,348.20. Following the transaction, the insider now directly owns 30,835 shares of the company’s stock, valued at $2,421,780.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Claudio Merengo sold 21,793 shares of Graco stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $80.32, for a total transaction of $1,750,413.76. Following the transaction, the insider now directly owns 18,286 shares in the company, valued at $1,468,731.52. The disclosure for this sale can be found here. Insiders have sold 64,658 shares of company stock valued at $5,138,923 over the last three months. 2.98% of the stock is owned by corporate insiders.

Graco Trading Down 1.6 %

Shares of GGG opened at $75.78 on Thursday. The firm’s 50 day simple moving average is $73.30 and its 200 day simple moving average is $70.50. The company has a market capitalization of $12.76 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.58 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.38 and a quick ratio of 2.07. Graco Inc. has a 1-year low of $56.48 and a 1-year high of $80.90.

Graco (NYSE:GGGGet Rating) last announced its earnings results on Wednesday, April 26th. The industrial products company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.13. The business had revenue of $529.65 million for the quarter, compared to the consensus estimate of $501.87 million. Graco had a net margin of 22.44% and a return on equity of 26.12%. Graco’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. Sell-side analysts forecast that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Company Profile

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Graco, Inc is a manufacturing company, which engages in the design, manufacture, and sale of systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials. It operates through the following segments: Industrial, Process, and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives, and other fluids.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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