Choreo LLC Buys 1,353 Shares of Graco Inc. (NYSE:GGG)

Choreo LLC raised its holdings in shares of Graco Inc. (NYSE:GGG) by 19.0% during the second quarter, HoldingsChannel reports. The firm owned 8,464 shares of the industrial products company’s stock after purchasing an additional 1,353 shares during the period. Choreo LLC’s holdings in Graco were worth $659,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GGG. Gradient Investments LLC purchased a new position in Graco during the 2nd quarter valued at about $27,000. Rise Advisors LLC purchased a new position in Graco during the 1st quarter valued at about $38,000. New Covenant Trust Company N.A. purchased a new position in Graco during the 1st quarter valued at about $43,000. Blue Trust Inc. increased its position in Graco by 220.9% during the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 475 shares during the period. Finally, Tobam increased its position in Graco by 90.2% during the 1st quarter. Tobam now owns 601 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Up 0.9 %

GGG stock opened at $83.09 on Friday. The firm has a 50 day moving average of $81.53 and a 200 day moving average of $84.17. The stock has a market capitalization of $14.04 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81. Graco Inc. has a 52 week low of $69.78 and a 52 week high of $94.77.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The company had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. Graco’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. On average, equities research analysts expect that Graco Inc. will post 2.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on GGG. Royal Bank of Canada cut their target price on shares of Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. StockNews.com downgraded shares of Graco from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Robert W. Baird cut their price objective on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, DA Davidson cut their price objective on shares of Graco from $82.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $86.80.

Graco Company 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.