Graco Inc. (NYSE:GGG) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 673,240 shares of the industrial products company's stock after buying an additional 10,041 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.40% of Graco worth $56,740,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GGG. Franklin Resources Inc. grew its holdings in Graco by 37.2% in the third quarter. Franklin Resources Inc. now owns 119,708 shares of the industrial products company's stock worth $10,413,000 after purchasing an additional 32,475 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Graco by 2.8% during the fourth quarter. Nordea Investment Management AB now owns 15,245 shares of the industrial products company's stock worth $1,290,000 after buying an additional 414 shares during the period. Elevated Capital Advisors LLC lifted its stake in shares of Graco by 49.9% during the fourth quarter. Elevated Capital Advisors LLC now owns 3,546 shares of the industrial products company's stock worth $299,000 after buying an additional 1,181 shares during the period. PFW Advisors LLC acquired a new stake in shares of Graco during the fourth quarter worth $247,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Graco by 4.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 199,229 shares of the industrial products company's stock worth $16,793,000 after buying an additional 8,352 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Performance

Shares of GGG stock traded up $0.91 on Friday, reaching $86.84. 123,063 shares of the company were exchanged, compared to its average volume of 818,420. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86. The company has a market cap of $14.51 billion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 2.85 and a beta of 1.09. The business has a 50-day moving average price of $81.52 and a 200 day moving average price of $84.53.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Graco had a net margin of 23.00% and a return on equity of 19.38%. The business had revenue of $528.28 million during the quarter, compared to analysts' expectations of $526.98 million. During the same quarter in the prior year, the company posted $0.65 EPS. The business's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.

Analysts Set New Price Targets

Separately, DA Davidson set a $85.00 target price on shares of Graco in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Graco has an average rating of "Hold" and a consensus target price of $93.00.

Insiders Place Their Bets

In other Graco news, insider David J. Thompson sold 3,588 shares of the firm'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 transaction, the insider now directly owns 27,520 shares of the company's stock, valued at approximately $2,373,049.60. This trade represents a 11.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.19% of the stock is owned by company insiders.

Graco Company Profile

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.