Cambridge Investment Research Advisors Inc. Sells 8,641 Shares of Graco Inc. (NYSE:GGG)

Cambridge Investment Research Advisors Inc. lowered its position in Graco Inc. (NYSE:GGGFree Report) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,836 shares of the industrial products company’s stock after selling 8,641 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Graco were worth $5,191,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Tobam raised its position in shares of Graco by 2,330.8% during the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 303 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Graco during the fourth quarter worth $28,000. Fortitude Family Office LLC acquired a new stake in shares of Graco during the fourth quarter worth $29,000. Northwest Financial Advisors bought a new stake in Graco in the 4th quarter valued at $50,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Graco by 3,063.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 582 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. William Blair restated a “market perform” rating on shares of Graco in a report on Friday, April 26th. Royal Bank of Canada upped their price target on Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com upgraded shares of Graco from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Finally, Robert W. Baird cut their price objective on shares of Graco from $90.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.25.

Check Out Our Latest Research Report on Graco

Insider Activity

In other Graco news, insider Timothy R. White sold 2,500 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $92.82, for a total transaction of $232,050.00. Following the transaction, the insider now owns 48,282 shares in the company, valued at approximately $4,481,535.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Graco news, Director Jody H. Feragen sold 5,036 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $92.29, for a total transaction of $464,772.44. Following the completion of the transaction, the director now owns 44,903 shares of the company’s stock, valued at $4,144,097.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy R. White sold 2,500 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $92.82, for a total transaction of $232,050.00. Following the completion of the transaction, the insider now directly owns 48,282 shares of the company’s stock, valued at approximately $4,481,535.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,124 shares of company stock worth $1,032,659. Corporate insiders own 2.63% of the company’s stock.

Graco Stock Performance

Graco stock opened at $78.64 on Thursday. The stock has a 50-day simple moving average of $86.80 and a 200 day simple moving average of $86.25. The stock has a market capitalization of $13.30 billion, a P/E ratio of 27.12, a PEG ratio of 2.61 and a beta of 0.84. Graco Inc. has a 52 week low of $69.78 and a 52 week high of $94.77.

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

Graco 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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