Marks Group Wealth Management Inc Has $6.98 Million Stock Position in Graco Inc. $GGG

Marks Group Wealth Management Inc decreased its holdings in shares of Graco Inc. (NYSE:GGG) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,105 shares of the industrial products company’s stock after selling 9,559 shares during the quarter. Marks Group Wealth Management Inc owned approximately 0.05% of Graco worth $6,976,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. State Street Corp increased its stake in shares of Graco by 1.3% during the 3rd quarter. State Street Corp now owns 7,571,060 shares of the industrial products company’s stock worth $643,237,000 after purchasing an additional 99,097 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Graco by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 4,652,241 shares of the industrial products company’s stock worth $380,642,000 after buying an additional 261,126 shares during the period. Amundi boosted its holdings in shares of Graco by 2.6% during the 3rd quarter. Amundi now owns 2,076,887 shares of the industrial products company’s stock worth $176,016,000 after buying an additional 53,126 shares during the period. Norges Bank bought a new stake in shares of Graco during the 4th quarter worth $161,949,000. Finally, Northern Trust Corp boosted its holdings in shares of Graco by 0.8% during the 3rd quarter. Northern Trust Corp now owns 1,865,673 shares of the industrial products company’s stock worth $158,508,000 after buying an additional 14,764 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. DA Davidson reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Graco in a report on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Graco in a report on Friday, April 24th. Finally, Robert W. Baird decreased their price objective on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.25.

Insider Buying and Selling

In related news, Director Andrea Helen Simon bought 1,240 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director directly owned 1,240 shares in the company, valued at $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.18% of the stock is currently owned by insiders.

Graco Price Performance

NYSE:GGG opened at $74.13 on Tuesday. The stock has a market cap of $12.30 billion, a P/E ratio of 24.15, a PEG ratio of 2.40 and a beta of 0.93. Graco Inc. has a one year low of $73.48 and a one year high of $95.69. The company has a fifty day moving average price of $80.35 and a 200 day moving average price of $84.47.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). The company had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. Graco’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 earnings per share. As a group, equities research analysts anticipate that Graco Inc. will post 3.1 EPS for the current year.

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.