Marks Group Wealth Management Inc Sells 9,559 Shares of Graco Inc. $GGG

Marks Group Wealth Management Inc lessened its holdings in Graco Inc. (NYSE:GGG) by 10.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 85,105 shares of the industrial products company’s stock after selling 9,559 shares during the period. Marks Group Wealth Management Inc’s holdings in Graco were worth $6,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Fox Run Management L.L.C. increased its holdings in Graco by 14.0% in the 4th quarter. Fox Run Management L.L.C. now owns 6,826 shares of the industrial products company’s stock valued at $560,000 after buying an additional 836 shares during the period. LPL Financial LLC increased its holdings in Graco by 8.5% in the 4th quarter. LPL Financial LLC now owns 62,139 shares of the industrial products company’s stock valued at $5,094,000 after buying an additional 4,872 shares during the period. Franklin Resources Inc. increased its holdings in Graco by 4.8% in the 4th quarter. Franklin Resources Inc. now owns 68,656 shares of the industrial products company’s stock valued at $5,628,000 after buying an additional 3,125 shares during the period. Syon Capital LLC increased its holdings in Graco by 18.3% in the 4th quarter. Syon Capital LLC now owns 4,211 shares of the industrial products company’s stock valued at $345,000 after buying an additional 650 shares during the period. Finally, ING Groep NV bought a new stake in Graco in the 4th quarter valued at $3,057,000. Institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

Shares of NYSE:GGG opened at $74.13 on Tuesday. Graco Inc. has a 52 week low of $73.48 and a 52 week high of $95.69. The company’s fifty day moving average is $80.35 and its 200-day moving average is $84.47. The company has a market capitalization of $12.30 billion, a PE ratio of 24.15, a P/E/G ratio of 2.40 and a beta of 0.93.

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

Insider Activity at Graco

In other news, Director Andrea Helen Simon bought 1,240 shares of Graco stock in a transaction dated Monday, April 27th. The shares were bought at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GGG. Robert W. Baird lowered their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Graco in a report on Friday, April 24th. DA Davidson reissued a “neutral” rating and issued a $85.00 price target on shares of Graco in a report on Monday, April 27th. Finally, Weiss Ratings downgraded shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $94.25.

Graco Company 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.