Vident Advisory LLC Has $496,000 Stock Holdings in Graco Inc. (NYSE:GGG)

Vident Advisory LLC lowered its position in Graco Inc. (NYSE:GGG - Free Report) by 46.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,880 shares of the industrial products company's stock after selling 5,187 shares during the period. Vident Advisory LLC's holdings in Graco were worth $496,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming increased its holdings in Graco by 73.0% in the fourth quarter. State of Wyoming now owns 4,546 shares of the industrial products company's stock worth $383,000 after buying an additional 1,918 shares during the last quarter. Snowden Capital Advisors LLC grew its holdings in Graco by 6.3% during the fourth quarter. Snowden Capital Advisors LLC now owns 7,403 shares of the industrial products company's stock valued at $624,000 after purchasing an additional 440 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new position in Graco during the fourth quarter valued at approximately $216,000. Sherbrooke Park Advisers LLC acquired a new position in Graco during the fourth quarter valued at approximately $218,000. Finally, Royal Bank of Canada grew its holdings in Graco by 7.5% during the fourth quarter. Royal Bank of Canada now owns 326,104 shares of the industrial products company's stock valued at $27,487,000 after purchasing an additional 22,737 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider David J. Thompson sold 3,588 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.19% of the stock is owned by company insiders.

Graco Stock Up 0.0%

GGG stock traded up $0.01 during midday trading on Friday, hitting $84.68. 1,723,119 shares of the company traded hands, compared to its average volume of 818,077. The business has a 50 day simple moving average of $81.83 and a 200-day simple moving average of $84.50. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86.

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

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.