TD Asset Management Inc Sells 71,263 Shares of Graco Inc. $GGG

TD Asset Management Inc lowered its stake in shares of Graco Inc. (NYSE:GGG) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 659,174 shares of the industrial products company’s stock after selling 71,263 shares during the quarter. TD Asset Management Inc owned 0.40% of Graco worth $54,032,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Stonebridge Capital Advisors LLC grew its holdings in Graco by 0.3% during the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after buying an additional 119 shares in the last quarter. Fifth Third Bancorp grew its stake in Graco by 7.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 125 shares during the period. ICW Investment Advisors LLC grew its stake in Graco by 4.6% in the 3rd quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 126 shares during the period. Jones Financial Companies Lllp grew its stake in Graco by 7.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 135 shares during the period. Finally, Viawealth LLC grew its stake in Graco by 0.3% in the 3rd quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock valued at $4,519,000 after purchasing an additional 137 shares during the period. Institutional investors own 93.88% of the company’s stock.

Insider Activity at Graco

In other news, Director Andrea Helen Simon purchased 1,240 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were purchased at an average price of $80.53 per share, with a total value of $99,857.20. Following the transaction, the director directly owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.18% of the stock is owned by corporate insiders.

Graco Price Performance

Shares of NYSE GGG opened at $74.28 on Friday. Graco Inc. has a one year low of $73.48 and a one year high of $95.69. The business’s fifty day moving average price is $80.56 and its 200-day moving average price is $84.47. The stock has a market capitalization of $12.33 billion, a PE ratio of 24.20, a P/E/G ratio of 2.40 and a beta of 0.93.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $561.35 million. During the same period in the prior year, the company earned $0.70 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts expect that Graco Inc. will post 3.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. Weiss Ratings downgraded Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Robert W. Baird reduced their price objective on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, DA Davidson restated a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, April 27th. Three 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 stock currently has an average rating of “Hold” and a consensus price target of $94.25.

About Graco

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.