Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Graco Inc. shares valued at $635,578 were sold by Ahlers David M on Aug 19. At $70.22 per share, Ahlers David M sold 9,051 shares. The insider’s holdings dropped to 65,135 shares worth approximately $4.43 million following the completion of this transaction.
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Also, Ahlers David M sold 44,949 shares, netting a total of over 3,181,000 in proceeds. Following the sale of shares at $70.77 each, the insider now holds 65,135 shares.
Before that, Etchart Eric had sold 6,000 shares from its account. In a trade valued at $403,200, the Director traded Graco Inc. shares for $67.20 each. Upon closing the transaction, the insider’s holdings decreased to 6,000 shares, worth approximately $2.13 million.
As published in a research note from Robert W. Baird on July 14, 2022, Graco Inc. [GGG] has been rated down from an Outperform to a Neutral and the price target has been revised to $61. This represents a -11.39% premium over Wednesday’s closing price. Analysts at William Blair upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in early December. As of March 31, 2021, Morgan Stanley has initiated its “an Equal-weight” rating for GGG. Earlier on January 19, 2021, Jefferies upgraded its rating. Their new recommendation was “a Buy” for GGG stock which previously was a “a Hold”.
Analyzing GGG Stock Performance
On Wednesday, Graco Inc. [NYSE: GGG] plunged -3.23% to $67.95. The stock’s lowest price that day was $67.87, but it reached a high of $70.30 in the same session. During the last five days, there has been a surge of approximately 4.11%. Over the course of the year, Graco Inc. shares have dropped approximately -15.72%. Shares of the company reached a 52-week high of $80.92 on 01/03/22 and a 52-week low of $56.48 on 06/16/22. A 50-day SMA is recorded $63.67, while a 200-day SMA reached $65.45. Nevertheless, trading volume fell to 1.01 million shares from 1.18 million shares the previous day.
Support And Resistance Levels for Graco Inc. (GGG)
According to the 24-hour chart, there is a support level at 67.11, which, if violated, would cause prices to drop to 66.28. In the upper region, resistance lies at 69.54. The next price resistance is at 71.14. RSI (Relative Strength Index) is 61.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.19, which suggests the price will increase in the coming days. Percent R is at 23.27%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Graco Inc. subject to short interest?
Stocks of Graco Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.2 million shares to 2.27 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.07 million shares. A jump of 8.81% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.73 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.73.
Which companies own the most shares of Graco Inc. (GGG)?
According to The Vanguard Group, Inc. filings, the company currently owns 16,367,970 shares, which is about 9.68% of the total GGG shares outstanding. The investor’s shares have plunged by -11,147 from its previous 13-F filing of 16379117.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $798,275,795. Fiera Capital Corp. acquire a 2.04% interest valued at $605.91 million while Kayne Anderson Rudnick Investment sold a -223,796 stake. A total of 399,541 shares of Graco Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 598,982 were bought by WCM Investment Management LLC. In its current portfolio, Mairs & Power, Inc. holds 4,488,156 shares valued at $269.06 million.
In terms of Graco Inc. share price expectations, FactSet research, analysts set an average price target of $71.14 in the next 12 months, down nearly -0.31% from the previous closing price of $70.22. Analysts anticipate Graco Inc. stock to reach $80.00 by 2022, with the lowest price target being $66.00. In spite of this, 13 analysts ranked Graco Inc. stock as an Overweight at the end of 2022. On October 16, 2020, Berenberg assigned a price target of “a Hold” to the stock and initiated coverage with a $62.