CFO and Treasurer LOWE DAVID M sold 31,128 shares of Graco Inc. [GGG]


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Graco Inc. shares valued at $2,184,252 were sold by LOWE DAVID M on Feb 09. At $70.17 per share, LOWE DAVID M sold 31,128 shares. The insider’s holdings dropped to 601,770 shares worth approximately $41.62 million following the completion of this transaction.

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Also, VAN SANT R WILLIAM sold 20,820 shares, netting a total of over 1,481,136 in proceeds. Following the sale of shares at $71.14 each, the insider now holds 0 shares.

Before that, Etchart Eric had sold 6,000 shares from its account. In a trade valued at $431,400, the Director traded Graco Inc. shares for $71.90 each. Upon closing the transaction, the insider’s holdings decreased to 6,000 shares, worth approximately $2.19 million.

As published in a research note from Seaport Research Partners on February 02, 2023, Graco Inc. [GGG] has been rated up from a Neutral to a Buy and the price target has been revised to $82. This represents a 15.65% premium over Wednesday’s closing price. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of December 02, 2021, William Blair has increased its “Mkt perform” rating to a “an Outperform” for GGG. Earlier on March 31, 2021, Morgan Stanley initiated its rating. Their recommendation was “an Equal-weight” for GGG stock.

Analyzing GGG Stock Performance

On Wednesday, Graco Inc. [NYSE: GGG] plunged -0.53% to $69.17. The stock’s lowest price that day was $69.02, but it reached a high of $69.79 in the same session. During the last five days, there has been a drop of approximately -1.78%. Over the course of the year, Graco Inc. shares have jumped approximately 2.84%. Shares of the company reached a 52-week high of $72.87 on 02/15/23 and a 52-week low of $65.93 on 01/24/23. A 50-day SMA is recorded $68.90, while a 200-day SMA reached $65.46. Nevertheless, trading volume fell to 1.34 million shares from 1.11 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 68.86, which, if violated, would cause prices to drop to 68.56. In the upper region, resistance lies at 69.63. The next price resistance is at 70.10. RSI (Relative Strength Index) is 45.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.12, which suggests the price will decrease in the coming days. Percent R is at 91.36%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Graco Inc. subject to short interest?

Stocks of Graco Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by 20000.0 shares to 2.22 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 2.24 million shares. A decline of -0.9% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.87 of the overall float, the days-to-cover ratio (short ratio) decline to 2.87.

Which companies own the most shares of Graco Inc. (GGG)?

According to The Vanguard Group, Inc. filings, the company currently owns 16,501,223 shares, which is about 9.79% of the total GGG shares outstanding. The investor’s shares have appreciated by 137,687 from its previous 13-F filing of 16363536.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $951,715,090. Fiera Capital Corp. reduced a -3.72% interest valued at $635.86 million while SSgA Funds Management, Inc. sold a -30,079 stake. A total of -700,969 shares of Graco Inc. were sold by Kayne Anderson Rudnick Investment during the quarter, and -13,670 were sold by Mairs & Power, Inc. In its current portfolio, Alecta Pension Insurance Mutual holds 4,400,000 shares valued at $300.61 million.

In terms of Graco Inc. share price expectations, FactSet research, analysts set an average price target of $76.17 in the next 12 months, up nearly 10.01% from the previous closing price of $69.54. Analysts anticipate Graco Inc. stock to reach $82.00 by 2023, with the lowest price target being $70.00. In spite of this, 11 analysts ranked Graco Inc. stock as an Overweight at the end of 2023. On January 19, 2021, Jefferies assigned a price target of “a Buy” to the stock and upgraded coverage with a $90.


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