Siemens Fonds Invest GmbH Makes New Investment in Graco Inc. (NYSE:GGG)

Siemens Fonds Invest GmbH purchased a new stake in Graco Inc. (NYSE:GGG) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,558 shares of the industrial products company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Institute for Wealth Management LLC. raised its position in shares of Graco by 2.5% in the fourth quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company’s stock valued at $410,000 after buying an additional 119 shares in the last quarter. Optas LLC raised its position in shares of Graco by 4.0% in the fourth quarter. Optas LLC now owns 3,360 shares of the industrial products company’s stock valued at $283,000 after buying an additional 128 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Graco by 1.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company’s stock valued at $1,226,000 after buying an additional 138 shares in the last quarter. IFP Advisors Inc raised its position in shares of Graco by 6.1% in the fourth quarter. IFP Advisors Inc now owns 2,782 shares of the industrial products company’s stock valued at $235,000 after buying an additional 160 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Graco by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,398 shares of the industrial products company’s stock valued at $2,899,000 after buying an additional 171 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson set a $85.00 price target on shares of Graco in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $93.00.

Insider Activity at Graco

In other Graco news, insider David J. Thompson sold 3,588 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total transaction of $309,393.24. Following the sale, the insider now owns 27,520 shares of the company’s stock, valued at approximately $2,373,049.60. The trade was a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.19% of the stock is currently owned by insiders.

Graco Price Performance

Shares of NYSE:GGG opened at $84.68 on Friday. The company’s 50 day simple moving average is $81.83 and its 200 day simple moving average is $84.53. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $528.28 million for the quarter, compared to analysts’ expectations of $526.98 million. Graco had a net margin of 23.00% and a return on equity of 19.38%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. As a group, analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.