Graco Inc. (NYSE:GGG) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lessened its holdings in Graco Inc. (NYSE:GGG) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,190 shares of the industrial products company’s stock after selling 1,942 shares during the quarter. Toronto Dominion Bank’s holdings in Graco were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Graco by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 17,141,579 shares of the industrial products company’s stock valued at $1,444,864,000 after buying an additional 183,335 shares in the last quarter. Geode Capital Management LLC raised its position in Graco by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,229,385 shares of the industrial products company’s stock worth $356,053,000 after acquiring an additional 77,093 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in Graco by 2.7% in the fourth quarter. PineStone Asset Management Inc. now owns 2,904,681 shares of the industrial products company’s stock valued at $244,836,000 after acquiring an additional 76,184 shares during the period. Principal Financial Group Inc. boosted its position in shares of Graco by 17.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,328,179 shares of the industrial products company’s stock worth $196,242,000 after purchasing an additional 337,437 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Graco during the 4th quarter worth $177,434,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analyst Ratings Changes

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

Graco Price Performance

Shares of NYSE:GGG opened at $84.53 on Friday. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The business’s 50 day simple moving average is $81.73 and its 200-day simple moving average is $84.67. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86.

Graco (NYSE:GGG) last issued 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 firm had revenue of $528.28 million during the quarter, compared to analysts’ expectations of $526.98 million. Graco had a return on equity of 19.38% and a net margin of 23.00%. Graco’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, equities analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.

Insider Transactions at Graco

In other news, insider David J. Thompson sold 3,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.