Graco Inc. (NYSE:GGG) Shares Sold by Commerce Bank

Commerce Bank lessened its stake in Graco Inc. (NYSE:GGGFree Report) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,343 shares of the industrial products company’s stock after selling 4,584 shares during the period. Commerce Bank’s holdings in Graco were worth $3,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Tobam boosted its stake in Graco by 2,330.8% in the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 303 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Graco during the fourth quarter worth about $28,000. Fortitude Family Office LLC acquired a new stake in shares of Graco during the fourth quarter worth about $29,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Graco by 3,063.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock worth $44,000 after buying an additional 582 shares during the period. Finally, Northwest Financial Advisors acquired a new stake in shares of Graco during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Price Performance

Shares of GGG opened at $81.48 on Monday. The firm has a 50 day simple moving average of $87.57 and a 200-day simple moving average of $86.26. Graco Inc. has a 1-year low of $69.78 and a 1-year high of $94.77. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 2.68 and a beta of 0.84.

Graco (NYSE:GGGGet Free Report) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Graco had a return on equity of 23.01% and a net margin of 23.15%. The firm had revenue of $492.19 million for the quarter, compared to analyst estimates of $536.19 million. During the same quarter last year, the business posted $0.74 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. On average, equities analysts expect that Graco Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Claudio Merengo sold 5,312 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.04, for a total transaction of $478,292.48. Following the sale, the insider now owns 18,847 shares in the company, valued at $1,696,983.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Angela F. Wordell sold 3,588 shares of Graco stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total value of $335,836.80. Following the transaction, the vice president now directly owns 12,725 shares of the company’s stock, valued at approximately $1,191,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Claudio Merengo sold 5,312 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $90.04, for a total transaction of $478,292.48. Following the sale, the insider now directly owns 18,847 shares of the company’s stock, valued at approximately $1,696,983.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,436 shares of company stock worth $1,510,952. 2.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GGG shares. StockNews.com upgraded shares of Graco from a “hold” rating to a “buy” rating in a research note on Friday. William Blair reiterated a “market perform” rating on shares of Graco in a research note on Friday, April 26th. Robert W. Baird cut their price target on shares of Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Finally, Royal Bank of Canada increased their price target on shares of Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.25.

Get Our Latest Stock Analysis on GGG

Graco Company Profile

(Free Report)

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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