Graco Inc. (NYSE:GGG) Stake Lowered by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its stake in shares of Graco Inc. (NYSE:GGGGet Rating) by 1.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,062,482 shares of the industrial products company’s stock after selling 14,969 shares during the period. Confluence Investment Management LLC’s holdings in Graco were worth $63,122,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ellevest Inc. boosted its holdings in Graco by 17.4% in the first quarter. Ellevest Inc. now owns 1,033 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 153 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in Graco by 0.9% in the first quarter. DAVENPORT & Co LLC now owns 19,887 shares of the industrial products company’s stock worth $1,387,000 after purchasing an additional 181 shares in the last quarter. Profund Advisors LLC boosted its holdings in Graco by 2.2% in the first quarter. Profund Advisors LLC now owns 8,710 shares of the industrial products company’s stock worth $607,000 after purchasing an additional 184 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in Graco by 3.0% in the first quarter. Cetera Advisor Networks LLC now owns 6,270 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 184 shares in the last quarter. Finally, SkyView Investment Advisors LLC boosted its holdings in Graco by 3.2% in the first quarter. SkyView Investment Advisors LLC now owns 6,076 shares of the industrial products company’s stock worth $563,000 after purchasing an additional 191 shares in the last quarter. 86.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Eric Etchart sold 6,000 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $67.20, for a total transaction of $403,200.00. Following the completion of the transaction, the director now owns 31,403 shares of the company’s stock, valued at $2,110,281.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Eric Etchart sold 6,000 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $67.20, for a total transaction of $403,200.00. Following the completion of the transaction, the director now owns 31,403 shares of the company’s stock, valued at $2,110,281.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David M. Ahlers sold 44,949 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $70.77, for a total transaction of $3,181,040.73. Following the transaction, the executive vice president now directly owns 65,135 shares of the company’s stock, valued at approximately $4,609,603.95. The disclosure for this sale can be found here. 3.52% of the stock is owned by company insiders.

Graco Stock Down 3.3 %

GGG stock opened at $61.97 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.01 and a quick ratio of 1.95. Graco Inc. has a 52-week low of $56.48 and a 52-week high of $81.09. The company has a 50-day moving average of $65.10 and a two-hundred day moving average of $64.52. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78.

Graco (NYSE:GGGGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $548.55 million during the quarter, compared to analyst estimates of $533.49 million. Graco had a net margin of 21.38% and a return on equity of 25.73%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. As a group, equities research analysts anticipate that Graco Inc. will post 2.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Robert W. Baird cut shares of Graco from an “outperform” rating to a “neutral” rating and set a $61.00 price objective for the company. in a report on Thursday, July 14th. DA Davidson decreased their price objective on shares of Graco to $70.00 in a report on Tuesday, August 9th. Finally, Morgan Stanley decreased their price target on shares of Graco from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, June 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.00.

Graco Profile

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Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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