Lazard Asset Management LLC Trims Stock Position in Graco Inc. (NYSE:GGG)

Lazard Asset Management LLC lessened its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 94.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,985 shares of the industrial products company's stock after selling 47,072 shares during the quarter. Lazard Asset Management LLC's holdings in Graco were worth $251,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of Graco during the fourth quarter worth approximately $25,000. TD Private Client Wealth LLC raised its stake in shares of Graco by 118.0% during the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after purchasing an additional 190 shares during the last quarter. National Pension Service purchased a new stake in shares of Graco during the fourth quarter worth approximately $34,000. Whipplewood Advisors LLC acquired a new stake in Graco in the fourth quarter valued at $37,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Graco in the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Price Performance

Graco stock traded up $1.26 during trading hours on Tuesday, hitting $84.90. The stock had a trading volume of 632,111 shares, compared to its average volume of 821,123. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of 30.10, a PEG 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. The stock's fifty day moving average is $81.74 and its two-hundred day moving average is $84.59.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 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 analyst estimates of $526.98 million. Graco had a return on equity of 19.38% and a net margin of 23.00%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. As a group, sell-side analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Analysts Set New Price Targets

Separately, DA Davidson set a $85.00 target price on Graco in a 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 company's stock. According to data from MarketBeat, Graco presently has an average rating of "Hold" and a consensus price target of $93.00.

Insider Activity at Graco

In related news, insider David J. Thompson sold 3,588 shares of the stock in a transaction on Tuesday, May 13th. The stock was 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 $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.19% of the company's stock.

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.