Janney Montgomery Scott LLC Buys Shares of 14,270 Graco Inc. (GGG)

Janney Montgomery Scott LLC bought a new position in Graco Inc. (NYSE:GGG) during the first quarter, according to its most recent filing with the SEC. The firm bought 14,270 shares of the industrial products company’s stock, valued at approximately $707,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NumerixS Investment Technologies Inc bought a new position in shares of Graco in the 4th quarter worth $25,000. JOYN Advisors Inc. lifted its stake in Graco by 222.4% during the 4th quarter. JOYN Advisors Inc. now owns 690 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 476 shares in the last quarter. Riverview Trust Co bought a new position in Graco during the 4th quarter valued at $49,000. Intercontinental Wealth Advisors LLC bought a new position in Graco during the 4th quarter valued at $61,000. Finally, Oregon Public Employees Retirement Fund lifted its stake in Graco by 4,085.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,782,062 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 2,715,585 shares in the last quarter. Institutional investors own 85.06% of the company’s stock.

In other news, VP Angela F. Wordell sold 7,500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $47.50, for a total transaction of $356,250.00. Following the completion of the sale, the vice president now directly owns 15,802 shares of the company’s stock, valued at approximately $750,595. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark W. Sheahan sold 54,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $47.17, for a total value of $2,547,180.00. Following the sale, the chief financial officer now directly owns 113,410 shares of the company’s stock, valued at $5,349,549.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 482,948 shares of company stock valued at $23,695,607. Insiders own 4.23% of the company’s stock.

Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Seaport Global Securities restated a “hold” rating on shares of Graco in a research note on Wednesday, January 30th. DA Davidson restated a “neutral” rating on shares of Graco in a research note on Thursday, April 25th. Royal Bank of Canada restated a “hold” rating and set a $46.00 price objective on shares of Graco in a research note on Wednesday, January 30th. Finally, Jefferies Financial Group assumed coverage on Graco in a research note on Friday, January 25th. They set a “hold” rating and a $46.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, Graco currently has a consensus rating of “Hold” and a consensus price target of $46.20.

Shares of NYSE:GGG opened at $48.68 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.23 and a debt-to-equity ratio of 0.21. Graco Inc. has a 1-year low of $37.36 and a 1-year high of $53.91. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 2.10 and a beta of 0.97.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). Graco had a net margin of 20.72% and a return on equity of 41.51%. The business had revenue of $404.90 million for the quarter, compared to analysts’ expectations of $415.70 million. During the same period in the prior year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Graco Inc. will post 2 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Janney Montgomery Scott LLC Buys Shares of 14,270 Graco Inc. (GGG)” was originally reported by Baseball Daily News and is the property of of Baseball Daily News. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/05/22/janney-montgomery-scott-llc-buys-shares-of-14270-graco-inc-ggg.html.

Graco Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

Further Reading: Debt-To-Equity Ratio

Want to see what other hedge funds are holding GGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graco Inc. (NYSE:GGG).

Institutional Ownership by Quarter for Graco (NYSE:GGG)

Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.