Haverford Trust Co. raised its stake in shares of Genuine Parts (NYSE:GPC) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 366,021 shares of the specialty retailer’s stock after purchasing an additional 9,396 shares during the quarter. Haverford Trust Co.’s holdings in Genuine Parts were worth $36,452,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of GPC. Marshall Wace North America L.P. purchased a new position in Genuine Parts during the 1st quarter valued at $44,000. FMR LLC increased its position in shares of Genuine Parts by 0.3% during the first quarter. FMR LLC now owns 176,981 shares of the specialty retailer’s stock worth $19,827,000 after buying an additional 591 shares during the period. DNB Asset Management AS increased its position in shares of Genuine Parts by 6.0% during the second quarter. DNB Asset Management AS now owns 63,949 shares of the specialty retailer’s stock worth $6,624,000 after buying an additional 3,644 shares during the period. First American Trust FSB increased its position in shares of Genuine Parts by 0.4% during the second quarter. First American Trust FSB now owns 48,778 shares of the specialty retailer’s stock worth $5,052,000 after buying an additional 175 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in shares of Genuine Parts by 0.8% during the second quarter. Crossmark Global Holdings Inc. now owns 84,330 shares of the specialty retailer’s stock worth $8,735,000 after buying an additional 661 shares during the period. 77.50% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on GPC. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 price objective on the stock in a research report on Wednesday, July 24th. Bank of America boosted their price objective on shares of Genuine Parts from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Goldman Sachs Group downgraded shares of Genuine Parts from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $101.00 to $93.00 in a research report on Friday, October 25th. Finally, Royal Bank of Canada set a $99.00 price objective on shares of Genuine Parts and gave the company a “hold” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Genuine Parts currently has an average rating of “Hold” and an average target price of $103.75.
Shares of NYSE:GPC traded down $0.27 during midday trading on Friday, reaching $106.15. The company’s stock had a trading volume of 543,250 shares, compared to its average volume of 695,625. The firm has a 50 day moving average of $99.76 and a 200-day moving average of $98.64. The firm has a market capitalization of $15.58 billion, a P/E ratio of 18.69, a PEG ratio of 3.56 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 1.26 and a debt-to-equity ratio of 0.98. Genuine Parts has a 12-month low of $87.26 and a 12-month high of $115.20.
Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, October 17th. The specialty retailer reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.03 billion. Genuine Parts had a net margin of 4.14% and a return on equity of 23.20%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 EPS. On average, research analysts predict that Genuine Parts will post 5.66 EPS for the current year.
In other news, insider Randall P. Breaux sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $107.22, for a total value of $107,220.00. Following the sale, the insider now directly owns 2,188 shares of the company’s stock, valued at approximately $234,597.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by corporate insiders.
Genuine Parts Profile
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
Featured Story: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?
Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC).
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.