Graco Inc. (NYSE:GGG) Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Graco Inc. (NYSE:GGG - Free Report) by 5.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,166,270 shares of the industrial products company's stock after purchasing an additional 65,399 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.69% of Graco worth $98,305,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GGG. Allianz Asset Management GmbH boosted its position in Graco by 32.0% in the 4th quarter. Allianz Asset Management GmbH now owns 1,545,846 shares of the industrial products company's stock valued at $130,298,000 after buying an additional 374,967 shares during the period. PineStone Asset Management Inc. boosted its position in Graco by 2.7% in the 4th quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company's stock valued at $244,836,000 after buying an additional 76,184 shares during the period. Canoe Financial LP boosted its position in Graco by 359.2% in the 4th quarter. Canoe Financial LP now owns 640,474 shares of the industrial products company's stock valued at $53,986,000 after buying an additional 501,003 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Graco by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,054,966 shares of the industrial products company's stock valued at $88,923,000 after buying an additional 19,545 shares during the period. Finally, Whittier Trust Co. boosted its position in Graco by 3.4% in the 4th quarter. Whittier Trust Co. now owns 184,103 shares of the industrial products company's stock valued at $15,518,000 after buying an additional 6,041 shares during the period. Institutional investors and hedge funds own 93.88% of the company's stock.

Insider Transactions at Graco

In related news, insider David J. Thompson sold 3,588 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the sale, the insider now directly owns 27,520 shares of the company's stock, valued at $2,373,049.60. The trade was a 11.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.19% of the company's stock.

Wall Street Analyst Weigh In

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

Graco Price Performance

Shares of Graco stock traded up $1.44 during trading on Friday, hitting $87.37. 704,468 shares of the stock were exchanged, compared to its average volume of 820,905. The stock has a market cap of $14.60 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The firm's 50-day moving average price is $81.52 and its 200 day moving average price is $84.53. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86.

Graco (NYSE:GGG - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $526.98 million. Graco had a net margin of 23.00% and a return on equity of 19.38%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. As a group, research analysts forecast that Graco Inc. will post 3.06 earnings per share for the current year.

Graco 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.