Graco Inc. $GGG Shares Sold by Seilern Investment Management Ltd

Seilern Investment Management Ltd trimmed its position in Graco Inc. (NYSE:GGG) by 9.5% in the second quarter, HoldingsChannel.com reports. The firm owned 91,477 shares of the industrial products company’s stock after selling 9,639 shares during the quarter. Graco comprises approximately 0.5% of Seilern Investment Management Ltd’s investment portfolio, making the stock its 20th biggest holding. Seilern Investment Management Ltd’s holdings in Graco were worth $7,864,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. eCIO Inc. acquired a new stake in Graco in the first quarter worth approximately $32,000. WPG Advisers LLC acquired a new stake in shares of Graco during the 1st quarter valued at $41,000. Geneos Wealth Management Inc. lifted its position in shares of Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 452 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Graco during the 4th quarter valued at $46,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Graco by 128.9% during the 1st quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 388 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GGG shares. Robert W. Baird increased their price objective on Graco from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Wolfe Research started coverage on Graco in a research report on Wednesday, June 18th. They set an “outperform” rating for the company. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $94.50.

Graco Stock Down 1.9%

GGG opened at $84.46 on Friday. The stock has a fifty day moving average of $85.61 and a 200-day moving average of $84.14. The firm has a market capitalization of $13.99 billion, a P/E ratio of 29.95, a PEG ratio of 2.91 and a beta of 1.03. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The business had revenue of $571.81 million during the quarter, compared to analysts’ expectations of $590.57 million. During the same quarter in the previous year, the company earned $0.77 EPS. Graco’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that Graco Inc. will post 3.06 earnings per share for the current fiscal 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.