HighTower Advisors LLC Has $32.53 Million Stock Holdings in Graco Inc. $GGG

Key Points

• HighTower Advisors LLC trimmed its Graco stake by 6.6% in the fourth quarter, but still held 396,827 shares valued at about $32.53 million. Institutional investors overall remain heavily involved, owning 93.88% of the company.
• Graco shares were trading near $75.69, close to their 52-week low, after the company reported Q1 earnings of $0.66 per share, missing estimates and coming in below prior-year results. Revenue also fell short of expectations at $540.14 million, though sales still rose 2.2% year over year.
• Analyst sentiment is mixed, with several firms adjusting targets but the overall consensus sitting at Hold and an average price target of $94.25. At the same time, director Andrea Helen Simon bought 1,240 shares, signaling insider confidence.

HighTower Advisors LLC lessened its position in Graco Inc. (NYSE:GGG - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 396,827 shares of the industrial products company's stock after selling 27,867 shares during the quarter. HighTower Advisors LLC owned approximately 0.24% of Graco worth $32,528,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Stonebridge Capital Advisors LLC increased 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 worth $3,562,000 after purchasing an additional 119 shares during the last quarter. Fifth Third Bancorp increased 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 worth $149,000 after purchasing an additional 125 shares during the last quarter. ICW Investment Advisors LLC increased 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 worth $242,000 after purchasing an additional 126 shares during the last quarter. Jones Financial Companies Lllp increased 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 worth $159,000 after purchasing an additional 135 shares during the last quarter. Finally, Viawealth LLC increased its position 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 purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company's stock.

Graco Trading Up 0.5%

GGG stock opened at $75.69 on Friday. The firm has a market capitalization of $12.56 billion, a PE ratio of 24.65, a PEG ratio of 2.42 and a beta of 0.96. Graco Inc. has a 1-year low of $74.24 and a 1-year high of $95.69. The business's 50 day simple moving average is $82.71 and its 200 day simple moving average is $84.93.

Graco (NYSE:GGG - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm's revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. As a group, sell-side analysts predict that Graco Inc. will post 3.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on GGG. Robert W. Baird lowered their price target on Graco from $96.00 to $92.00 and set a "neutral" rating on the stock in a research report on Friday, April 24th. Jefferies Financial Group boosted their price target on Graco from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. KeyCorp reaffirmed a "sector weight" rating on shares of Graco in a research report on Tuesday, January 27th. Weiss Ratings lowered Graco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $95.00 price target on shares of Graco in a research report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $94.25.

Insider Buying and Selling at Graco

In other Graco news, Director Andrea Helen Simon bought 1,240 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average cost of $80.53 per share, with a total value of $99,857.20. Following the acquisition, the director 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.18% of the company's stock.

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.

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