TD Asset Management Inc Reduces Stake in Graco Inc. $GGG

TD Asset Management Inc decreased its stake in shares of Graco Inc. (NYSE:GGG) by 9.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 659,174 shares of the industrial products company’s stock after selling 71,263 shares during the period. TD Asset Management Inc’s holdings in Graco were worth $54,032,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Graco by 1.3% during the 3rd quarter. State Street Corp now owns 7,571,060 shares of the industrial products company’s stock worth $643,237,000 after purchasing an additional 99,097 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Graco by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 4,652,241 shares of the industrial products company’s stock worth $380,642,000 after purchasing an additional 261,126 shares in the last quarter. Amundi lifted its holdings in Graco by 2.6% during the 3rd quarter. Amundi now owns 2,076,887 shares of the industrial products company’s stock worth $176,016,000 after purchasing an additional 53,126 shares in the last quarter. Norges Bank purchased a new stake in Graco during the 4th quarter worth about $161,949,000. Finally, Northern Trust Corp lifted its holdings in Graco by 0.8% during the 3rd quarter. Northern Trust Corp now owns 1,865,673 shares of the industrial products company’s stock worth $158,508,000 after purchasing an additional 14,764 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Down 0.0%

Shares of NYSE GGG opened at $74.28 on Friday. The firm has a market capitalization of $12.33 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.40 and a beta of 0.93. The stock’s 50-day simple moving average is $80.56 and its two-hundred day simple moving average is $84.47. Graco Inc. has a twelve month low of $73.48 and a twelve month high of $95.69.

Graco (NYSE:GGG) last announced 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 business had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.Graco’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. As a group, research analysts anticipate that Graco Inc. will post 3.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on GGG shares. Weiss Ratings cut Graco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Graco in a report on Friday, April 24th. DA Davidson reissued a “neutral” rating and set a $85.00 price objective on shares of Graco in a report on Monday, April 27th. Finally, Robert W. Baird decreased their target price on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $94.25.

Insiders Place Their Bets

In other Graco news, Director Andrea Helen Simon bought 1,240 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were acquired at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.18% of the stock is owned by corporate insiders.

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.