Graco Inc. (NYSE:GGG) VP David M. Ahlers sold 22,500 shares of Graco stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $120.01, for a total transaction of $2,700,225.00. Following the completion of the transaction, the vice president now directly owns 42,047 shares of the company’s stock, valued at $5,046,060.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Graco Inc. (NYSE GGG) opened at 119.91 on Friday. Graco Inc. has a 12 month low of $69.33 and a 12 month high of $121.40. The company has a market capitalization of $6.71 billion, a P/E ratio of 76.09 and a beta of 1.24. The company has a 50-day moving average of $114.70 and a 200 day moving average of $106.53.
Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The business had revenue of $379.50 million for the quarter, compared to analyst estimates of $369.36 million. During the same quarter in the prior year, the firm earned $0.89 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts forecast that Graco Inc. will post $4.53 EPS for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of GGG. Advisors Asset Management Inc. grew its holdings in shares of Graco by 106.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 578 shares during the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Graco by 200.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 800 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of Graco in the 2nd quarter worth about $180,000. TLP Group LLC bought a new stake in shares of Graco in the 1st quarter worth about $193,000. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Graco by 425.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock worth $198,000 after purchasing an additional 1,700 shares during the last quarter. 86.85% of the stock is currently owned by institutional investors and hedge funds.
GGG has been the subject of several research reports. Wolfe Research initiated coverage on shares of Graco in a report on Tuesday, July 11th. They issued an “underperform” rating and a $100.00 price target for the company. FBR & Co reaffirmed a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. BidaskClub lowered shares of Graco from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $110.00 price target (up from $105.00) on shares of Graco in a report on Monday, June 5th. Finally, Zacks Investment Research lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $106.20.
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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