Graco Inc. $GGG Holdings Lifted by California State Teachers Retirement System

California State Teachers Retirement System boosted its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 6,804.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,492,805 shares of the industrial products company's stock after buying an additional 20,195,984 shares during the period. California State Teachers Retirement System owned approximately 12.65% of Graco worth $1,549,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Graco during the 1st quarter valued at about $26,000. Whipplewood Advisors LLC grew its stake in shares of Graco by 2,650.0% in the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company's stock valued at $28,000 after buying an additional 318 shares in the last quarter. Essential Partners LLC increased its holdings in Graco by 78.6% in the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company's stock worth $30,000 after buying an additional 158 shares during the last quarter. Elevation Wealth Partners LLC raised its position in Graco by 2,540.0% during the second quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 508 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 452 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Price Performance

Graco stock opened at $76.69 on Friday. The company has a market capitalization of $12.42 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.92. Graco Inc. has a one year low of $72.51 and a one year high of $95.69. The business has a 50 day simple moving average of $78.53 and a 200 day simple moving average of $80.46.

Graco (NYSE:GGG - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.10. The business had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. Equities analysts anticipate that Graco Inc. will post 3.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird set a $94.00 target price on shares of Graco in a research report on Friday, July 24th. Weiss Ratings raised Graco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. DA Davidson reiterated a "neutral" rating and set a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Wolfe Research lowered Graco from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada raised their price objective on Graco from $92.00 to $96.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $95.00.

About Graco

Graco Inc is a manufacturer of equipment used to manage, measure, control and apply fluids and coatings. Its products include pumps, valves, meters, regulators, dispensing systems, spray equipment and automated lubrication systems used in manufacturing, construction, vehicle service and other industrial applications.

The company serves a range of end markets through businesses focused on contractor equipment, industrial systems and process equipment. Its offerings support applications such as painting and protective coatings, sealant and adhesive dispensing, lubrication, fluid transfer, water and wastewater treatment, and the handling of chemicals and other materials.

Founded in Minneapolis in 1926, Graco traces its origins to equipment developed for dispensing automotive grease.

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