Graco Inc. (NYSE:GGG) insider David M. Lowe sold 30,000 shares of Graco stock in a transaction on Friday, September 8th. The stock was sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the transaction, the insider now directly owns 164,809 shares in the company, valued at $19,035,439.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Graco Inc. (GGG) opened at 117.23 on Wednesday. The company has a 50-day moving average of $113.67 and a 200 day moving average of $105.99. The company has a market capitalization of $6.56 billion, a PE 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.
Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.32. The business had revenue of $379.50 million for the quarter, compared to analyst estimates of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. Graco’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. Analysts predict that Graco Inc. will post $4.53 earnings per share for the current year.
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GGG has been the topic of a number of recent analyst reports. BidaskClub raised shares of Graco from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a research report on Monday, July 31st. Deutsche Bank AG reaffirmed a “hold” rating and issued a $110.00 price objective (up from $105.00) on shares of Graco in a research report on Monday, June 5th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $104.00 price objective on shares of Graco in a research report on Monday, June 5th. Finally, Wolfe Research reaffirmed a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $106.20.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its stake in Graco by 106.1% during the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 578 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in Graco by 200.0% during the second quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 800 shares in the last quarter. Fiduciary Trust Co. bought a new position in Graco during the second quarter worth $180,000. Mosaic Family Wealth LLC boosted its stake in Graco by 5.1% during the second quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 91 shares in the last quarter. Finally, HM Payson & Co. bought a new position in Graco during the second quarter worth $207,000. 86.85% of the stock is currently owned by institutional investors and hedge funds.
Graco Company Profile
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.
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