Northwestern Mutual Wealth Management Co. Purchases 553,688 Shares of Graco Inc. $GGG

Northwestern Mutual Wealth Management Co. increased its position in shares of Graco Inc. (NYSE:GGG) by 20,706.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 556,362 shares of the industrial products company’s stock after purchasing an additional 553,688 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Graco were worth $45,605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Graco by 15.6% in the first quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock worth $27,592,000 after acquiring an additional 44,573 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Graco by 982.6% in the first 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 during the last quarter. EverSource Wealth Advisors LLC lifted 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 worth $152,000 after acquiring an additional 870 shares during the last quarter. Marshall Wace LLP lifted its holdings 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 acquiring an additional 91,708 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings 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 acquiring an additional 852 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GGG. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Graco in a research report on Friday, April 24th. Robert W. Baird lowered their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. DA Davidson reiterated a “neutral” rating and set a $85.00 price target on shares of Graco in a report on Monday, April 27th. Jefferies Financial Group upped their price target on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Weiss Ratings downgraded shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $94.25.

Graco Stock Performance

NYSE:GGG opened at $76.29 on Tuesday. The company has a market capitalization of $12.66 billion, a PE ratio of 24.85, a P/E/G ratio of 2.43 and a beta of 0.96. The company has a 50 day simple moving average of $83.73 and a two-hundred day simple moving average of $85.12. Graco Inc. has a fifty-two week low of $75.57 and a fifty-two week high of $95.69.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. Research analysts predict that Graco Inc. will post 3.12 EPS for the current year.

Insiders Place Their Bets

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

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.