AXQ Capital LP Purchases New Position in Graco Inc. $GGG

AXQ Capital LP purchased a new stake in shares of Graco Inc. (NYSE:GGGFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,739 shares of the industrial products company’s stock, valued at approximately $880,000.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. raised its position in Graco by 42.6% during the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 139 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 452 shares in the last quarter. Field & Main Bank purchased a new stake in shares of Graco in the fourth quarter valued at approximately $41,000. Matrix Trust Co increased its position in shares of Graco by 43.0% in the fourth quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock valued at $45,000 after buying an additional 167 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in shares of Graco by 40.3% in the third quarter. CENTRAL TRUST Co now owns 735 shares of the industrial products company’s stock valued at $62,000 after buying an additional 211 shares in the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Andrea Helen Simon acquired 1,240 shares of the stock in a transaction on Monday, April 27th. The shares were bought at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the purchase, the director owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research 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. Robert W. Baird cut their price objective on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, DA Davidson restated a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $94.25.

Read Our Latest Stock Report on GGG

Graco Price Performance

Shares of NYSE:GGG opened at $74.01 on Wednesday. The business’s 50 day moving average price is $81.44 and its 200-day moving average price is $84.69. The firm has a market capitalization of $12.28 billion, a PE ratio of 24.11, a P/E/G ratio of 2.38 and a beta of 0.93. Graco Inc. has a 1 year low of $73.56 and a 1 year high of $95.69.

Graco (NYSE:GGGGet Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The firm had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, analysts expect that Graco Inc. will post 3.1 earnings per share for the current year.

Graco Profile

(Free Report)

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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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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