HighTower Advisors LLC Has $32.53 Million Position in Graco Inc. $GGG

HighTower Advisors LLC cut its holdings in shares of Graco Inc. (NYSE:GGG) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 396,827 shares of the industrial products company’s stock after selling 27,867 shares during the quarter. HighTower Advisors LLC’s holdings in Graco were worth $32,528,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC bought a new stake in Graco in the 3rd quarter valued at $29,000. Assetmark Inc. boosted its stake in Graco by 42.6% in the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 139 shares during the period. Field & Main Bank bought a new stake in Graco in the 4th quarter valued at $41,000. Geneos Wealth Management Inc. boosted its stake in Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 452 shares during the period. Finally, Matrix Trust Co boosted its stake in Graco by 43.0% in the 4th quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 167 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GGG shares. DA Davidson restated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Robert W. Baird reduced their price target on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Jefferies Financial Group boosted their price target on Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Graco in a research note on Friday, April 24th. Finally, KeyCorp restated a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $94.25.

Graco Stock Performance

NYSE:GGG opened at $75.69 on Friday. The stock has a fifty day moving average price of $82.71 and a 200-day moving average price of $84.93. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 2.42 and a beta of 0.96. Graco Inc. has a fifty-two week low of $74.24 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 company had revenue of $540.14 million for the quarter, compared to the consensus estimate of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. Research analysts predict that Graco Inc. will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling at Graco

In related news, Director Andrea Helen Simon bought 1,240 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the transaction, the director owned 1,240 shares in the company, valued at $99,857.20. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.18% of the company’s stock.

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.