Millennium Management LLC Sells 158,082 Shares of Graco Inc. (NYSE:GGG)

Millennium Management LLC cut its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 70.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,118 shares of the industrial products company's stock after selling 158,082 shares during the quarter. Millennium Management LLC's holdings in Graco were worth $5,489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GGG. Norges Bank acquired a new position in shares of Graco in the fourth quarter worth $177,434,000. Massachusetts Financial Services Co. MA grew its stake in Graco by 26,738.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,841,916 shares of the industrial products company's stock valued at $155,255,000 after purchasing an additional 1,835,053 shares in the last quarter. Northern Trust Corp increased its position in Graco by 36.7% in the 4th quarter. Northern Trust Corp now owns 1,929,952 shares of the industrial products company's stock worth $162,676,000 after purchasing an additional 518,462 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Graco by 76.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,147,341 shares of the industrial products company's stock worth $96,709,000 after purchasing an additional 495,293 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Graco by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,497,164 shares of the industrial products company's stock worth $126,196,000 after purchasing an additional 486,277 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company's stock.

Insider Buying and Selling at Graco

In other Graco 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 transaction, the insider now owns 27,520 shares in the company, valued at $2,373,049.60. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.19% of the company's stock.

Graco Stock Performance

Shares of NYSE GGG traded up $0.01 during trading on Friday, reaching $84.68. The company had a trading volume of 1,723,119 shares, compared to its average volume of 822,351. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The business's 50 day moving average price is $81.83 and its 200-day moving average price is $84.53. The stock has a market cap of $14.15 billion, a PE ratio of 30.03, a PEG ratio of 2.85 and a beta of 1.09.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. Graco had a return on equity of 19.38% and a net margin of 23.00%. The firm had revenue of $528.28 million during the quarter, compared to analyst estimates of $526.98 million. During the same period last year, the company earned $0.65 earnings per share. The company's revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.