Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Graco Inc. (NYSE:GGG – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 26,000 shares of the industrial products company’s stock, valued at approximately $2,131,000.
A number of other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock valued at $27,592,000 after buying an additional 44,573 shares during the last quarter. Geneos Wealth Management Inc. grew its stake 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 acquiring an additional 452 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Graco by 97.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 870 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Graco by 559.5% in the second quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company’s stock worth $9,293,000 after purchasing an additional 91,708 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Graco by 4.2% in the second quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company’s stock worth $1,830,000 after purchasing an additional 852 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.
Graco Trading Down 0.4%
GGG stock opened at $75.52 on Friday. Graco Inc. has a 1-year low of $74.24 and a 1-year high of $95.69. The business’s 50 day simple moving average is $81.65 and its 200 day simple moving average is $84.73. The firm has a market capitalization of $12.53 billion, a PE ratio of 24.60, a PEG ratio of 2.44 and a beta of 0.96.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Graco in a report on Friday, April 24th. Weiss Ratings cut Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Finally, DA Davidson restated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Graco presently has an average rating of “Hold” and an average target price of $94.25.
Get Our Latest Stock Report on GGG
Insiders Place Their Bets
In other news, Director Andrea Helen Simon bought 1,240 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was bought at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the transaction, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.18% of the stock is owned by corporate insiders.
Graco 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.
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