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<?xml version="1.0" encoding="windows-1252"?> |
<ownershipDocument> |
| <schemaVersion> X0508 </schemaVersion> |
| <documentType> 4 </documentType> |
| <periodOfReport> 2024-04-01 </periodOfReport> |
| <issuer> |
| | <issuerCik> 0000042888 </issuerCik> |
| | <issuerName> GRACO INC </issuerName> |
| | <issuerTradingSymbol> GGG </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001050572 </rptOwnerCik> |
| | | <rptOwnerName> GILLIGAN J KEVIN </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> 88 11TH AVENUE NE </rptOwnerStreet1> |
| | | <rptOwnerStreet2></rptOwnerStreet2> |
| | | <rptOwnerCity> MINNEAPOLIS </rptOwnerCity> |
| | | <rptOwnerState> MN </rptOwnerState> |
| | | <rptOwnerZipCode> 55413 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription></rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 1 </isDirector> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <aff10b5One> 0 </aff10b5One> |
| <derivativeTable> |
| | <derivativeTransaction> |
| | | <securityTitle> |
| <value> Deferred Stock Shares </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <footnoteId id="F1"/> |
| </conversionOrExercisePrice> |
| | | <transactionDate> |
| <value> 2024-04-01 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> A </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| <footnoteId id="F2"/> |
| </transactionCoding> |
| | | <transactionTimeliness></transactionTimeliness> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 319.92 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 93.46 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <exerciseDate> |
| <footnoteId id="F1"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <footnoteId id="F1"/> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 319.92 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 92761.1465 </value> |
| <footnoteId id="F3"/> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeTransaction> |
| | </derivativeTable> |
| <footnotes> |
| | <footnote id="F1"> The deferred stock shares were accrued under the Graco Inc. 2019 Stock Incentive Plan and are to be settled 100% in Graco common stock in a lump sum or installments upon reporting person's termination of service on the Board. </footnote> |
| | <footnote id="F2"> Shares of Graco Inc. deferred stock received in lieu of quarterly retainer fees. </footnote> |
| | <footnote id="F3"> The number of deferred stock shares includes deferred stock shares acquired under the Graco Inc. Automatic Dividend Reinvestment Plan (DRIP), exempt under Rule 16a-11. </footnote> |
| | </footnotes> |
| <ownerSignature> |
| | <signatureName> /s/ Joesph J. Humke, attorney-in-fact for Mr. Gilligan </signatureName> |
| | <signatureDate> 2024-04-01 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |