Graco Inc. (NYSE:GGG) Shares Sold by Aviva PLC

Aviva PLC reduced its position in shares of Graco Inc. (NYSE:GGG – Get Rating) by 40.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,660 shares of the industrial products company’s stock after selling 9,972 shares during the period. Aviva PLC’s holdings in Graco were worth $986,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GGG. Asset Dedication LLC boosted its position in Graco by 2,034.8% in the 4th quarter. Asset Dedication LLC now owns 491 shares of the industrial products company’s stock valued at $33,000 after buying an additional 468 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in Graco in the second quarter valued at about $35,000. Affiance Financial LLC acquired a new stake in Graco during the 4th quarter valued at approximately $55,000. FourThought Financial LLC increased its holdings in Graco by 19.5% during the 3rd quarter. FourThought Financial LLC now owns 1,011 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 165 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Graco by 1,481.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,360 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 1,274 shares in the last quarter. 85.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GGG has been the subject of a number of recent analyst reports. Seaport Res Ptn upgraded shares of Graco from a “neutral” rating to a “buy” rating in a research note on Thursday, February 2nd. Robert W. Baird increased their price target on shares of Graco from $75.00 to $83.00 in a research report on Friday, April 28th. DA Davidson boosted their price objective on Graco from $70.00 to $75.00 in a report on Thursday, April 27th. StockNews.com began coverage on Graco in a report on Thursday. They set a “buy” rating on the stock. Finally, Royal Bank of Canada boosted their price target on Graco from $82.00 to $89.00 in a report on Friday, April 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

Insider Activity

In related news, Director J Kevin Gilligan sold 16,320 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $79.88, for a total value of $1,303,641.60. Following the sale, the director now owns 17,462 shares of the company’s stock, valued at approximately $1,394,864.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Claudio Merengo sold 21,793 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $80.32, for a total value of $1,750,413.76. Following the completion of the transaction, the insider now owns 18,286 shares of the company’s stock, valued at $1,468,731.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Kevin Gilligan sold 16,320 shares of Graco stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $79.88, for a total transaction of $1,303,641.60. Following the sale, the director now owns 17,462 shares in the company, valued at $1,394,864.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,943 shares of company stock valued at $3,433,404. 2.98% of the stock is currently owned by company insiders.

Graco Stock Performance

Shares of NYSE GGG opened at $78.05 on Friday. The company has a quick ratio of 2.07, a current ratio of 3.38 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $72.73 and its two-hundred day moving average price is $70.31. Graco Inc. has a 52-week low of $56.48 and a 52-week high of $80.90. The stock has a market capitalization of $13.14 billion, a P/E ratio of 27.48, a P/E/G ratio of 2.57 and a beta of 0.80.

Graco (NYSE:GGG – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.13. The business had revenue of $529.65 million for the quarter, compared to the consensus estimate of $501.87 million. Graco had a return on equity of 26.12% and a net margin of 22.44%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. As a group, sell-side analysts forecast that Graco Inc. will post 3.06 earnings per share for the current year.

About Graco

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Graco, Inc is a manufacturing company, which engages in the design, manufacture, and sale of systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials. It operates through the following segments: Industrial, Process, and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives, and other fluids.