ING Groep NV Invests $3.06 Million in Graco Inc. $GGG

ING Groep NV purchased a new position in Graco Inc. (NYSE:GGG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,300 shares of the industrial products company’s stock, valued at approximately $3,057,000.

Several other hedge funds have also recently modified their holdings of GGG. Norges Bank purchased a new stake in shares of Graco in the 4th quarter worth approximately $161,949,000. Caisse de depot et placement du Quebec lifted its position in shares of Graco by 236.4% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company’s stock worth $108,711,000 after purchasing an additional 899,174 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Graco by 20,706.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock valued at $45,605,000 after acquiring an additional 553,688 shares during the last quarter. AQR Capital Management LLC lifted its position in Graco by 116.8% during the second quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company’s stock valued at $63,201,000 after acquiring an additional 396,125 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Graco by 877.5% during the third quarter. Schroder Investment Management Group now owns 334,947 shares of the industrial products company’s stock valued at $28,300,000 after acquiring an additional 300,682 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Trading Down 0.3%

Shares of Graco stock opened at $74.13 on Tuesday. Graco Inc. has a 12-month low of $73.48 and a 12-month high of $95.69. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.40 and a beta of 0.93. The firm’s 50 day simple moving average is $80.35 and its two-hundred day simple moving average is $84.47.

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

Insider Transactions at Graco

In related news, Director Andrea Helen Simon purchased 1,240 shares of the business’s stock in a transaction on Monday, April 27th. The shares were acquired at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Graco in a research report on Friday, April 24th. Weiss Ratings cut shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday. Robert W. Baird decreased their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, DA Davidson reissued a “neutral” rating and set a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $94.25.

Graco Profile

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.