Raiffeisen Bank International AG Has $9.91 Million Stock Position in Graco Inc. $GGG

Raiffeisen Bank International AG lifted its stake in Graco Inc. (NYSE:GGG) by 1,270.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,737 shares of the industrial products company’s stock after acquiring an additional 111,928 shares during the quarter. Raiffeisen Bank International AG owned approximately 0.07% of Graco worth $9,906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GGG. Stonebridge Capital Advisors LLC grew its position in shares of Graco by 0.3% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after purchasing an additional 119 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Graco by 7.7% during 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 in the last quarter. ICW Investment Advisors LLC grew its position in shares of Graco by 4.6% during 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 in the last quarter. Jones Financial Companies Lllp grew its position in shares of Graco by 7.8% during 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 in the last quarter. Finally, Viawealth LLC lifted its holdings in shares of Graco by 0.3% during the 3rd quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock worth $4,519,000 after acquiring an additional 137 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Performance

NYSE GGG opened at $74.22 on Friday. Graco Inc. has a 52-week low of $73.26 and a 52-week high of $95.69. The company has a market capitalization of $12.32 billion, a P/E ratio of 24.18, a P/E/G ratio of 2.37 and a beta of 0.93. The company has a fifty day moving average of $79.79 and a 200-day moving average of $84.35.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate 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%.The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, analysts forecast that Graco Inc. will post 3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Graco in a report on Monday, April 27th. Weiss Ratings downgraded shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Graco in a report on Friday, April 24th. Finally, Robert W. Baird dropped their price objective on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Graco currently has an average rating of “Hold” and an average price target of $94.25.

Insiders Place Their Bets

In other Graco news, Director Andrea Helen Simon purchased 1,240 shares of the stock in a transaction on Monday, April 27th. The stock was acquired at an average cost of $80.53 per share, with a total value of $99,857.20. Following the completion of the purchase, the director directly owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.18% of the stock is owned by corporate insiders.

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.