Graco Inc. [GGG] Shares Rise 0.67 on Thursday


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 $1,198,092 were sold by Johnson Jeffrey P. on May 22. At $78.55 per share, Johnson Jeffrey P. sold 15,252 shares. The insider’s holdings dropped to 30,835 shares worth approximately $2.35 million following the completion of this transaction.

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Also, Johnson Jeffrey P. sold 10,315 shares, netting a total of over 812,005 in proceeds. Following the sale of shares at $78.72 each, the insider now holds 30,835 shares.

Before that, Johnson Jeffrey P. had sold 6,463 shares from its account. In a trade valued at $507,504, the President, Electric Motor Div traded Graco Inc. shares for $78.52 each. Upon closing the transaction, the insider’s holdings decreased to 6,463 shares, worth approximately $2.35 million.

Analyzing GGG Stock Performance

On Thursday, Graco Inc. [NYSE: GGG] rose 0.67% to $76.29. The stock’s lowest price that day was $75.68, but it reached a high of $76.68 in the same session. During the last five days, there has been a drop of approximately -2.78%. Over the course of the year, Graco Inc. shares have jumped approximately 13.43%. Shares of the company reached a 52-week high of $80.90 on 05/01/23 and a 52-week low of $65.93 on 01/24/23. A 50-day SMA is recorded $73.44, while a 200-day SMA reached $68.79. Nevertheless, trading volume fell to 0.53 million shares from 0.63 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 75.75, which, if violated, would cause prices to drop to 75.22. In the upper region, resistance lies at 76.75. The next price resistance is at 77.22. RSI (Relative Strength Index) is 50.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.14, which suggests the price will decrease in the coming days. Percent R is at 77.90%, 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 May 14, 2023 dropping by -0.44 million shares to 2.42 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 2.86 million shares. A decline of -18.18% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.56 of the overall float, the days-to-cover ratio (short ratio) decline to 2.56.

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

According to The Vanguard Group, Inc. filings, the company currently owns 16,579,929 shares, which is about 9.85% of the total GGG shares outstanding. The investor’s shares have appreciated by 78,706 from its previous 13-F filing of 16501223.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,118,779,838. Fiera Capital Corp. reduced a -1.63% interest valued at $725.94 million while SSgA Funds Management, Inc. purchased a 878,009 stake. A total of -675,334 shares of Graco Inc. were bought by Kayne Anderson Rudnick Investment during the quarter, and -39,839 were sold by Mairs & Power, Inc. In its current portfolio, Alecta Pension Insurance Mutual holds 4,400,000 shares valued at $348.88 million.

In terms of Graco Inc. share price expectations, FactSet research, analysts set an average price target of $84.33 in the next 12 months, up nearly 13.49% from the previous closing price of $75.78. Analysts anticipate Graco Inc. stock to reach $90.00 by 2023, with the lowest price target being $75.00. In spite of this, 10 analysts ranked Graco Inc. stock as an Overweight at the end of 2023.


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