Montag A & Associates Inc. grew its position in shares of Genuine Parts (NYSE:GPC) by 8.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 74,510 shares of the specialty retailer’s stock after purchasing an additional 5,757 shares during the quarter. Montag A & Associates Inc. owned 0.05% of Genuine Parts worth $7,420,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. 6 Meridian increased its position in shares of Genuine Parts by 2.2% during the 2nd quarter. 6 Meridian now owns 5,013 shares of the specialty retailer’s stock valued at $519,000 after purchasing an additional 106 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Genuine Parts by 1.8% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 6,331 shares of the specialty retailer’s stock worth $656,000 after acquiring an additional 113 shares during the last quarter. Tdam USA Inc. grew its holdings in shares of Genuine Parts by 1.7% in the 2nd quarter. Tdam USA Inc. now owns 6,932 shares of the specialty retailer’s stock worth $718,000 after acquiring an additional 114 shares during the last quarter. World Asset Management Inc grew its holdings in shares of Genuine Parts by 1.0% in the 2nd quarter. World Asset Management Inc now owns 11,692 shares of the specialty retailer’s stock worth $1,211,000 after acquiring an additional 120 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of Genuine Parts by 0.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 13,630 shares of the specialty retailer’s stock worth $1,412,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 77.50% of the company’s stock.
In other news, insider Randall P. Breaux sold 1,000 shares of Genuine Parts stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $107.22, for a total transaction of $107,220.00. Following the transaction, the insider now owns 2,188 shares in the company, valued at $234,597.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.50% of the company’s stock.
Shares of NYSE GPC traded down $0.27 during mid-day trading on Friday, reaching $106.15. The company had a trading volume of 543,250 shares, compared to its average volume of 818,828. The company has a current ratio of 1.26, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a market cap of $15.58 billion, a PE ratio of 18.69, a P/E/G ratio of 3.56 and a beta of 0.93. The company has a 50-day moving average price of $99.76 and a two-hundred day moving average price of $98.64. Genuine Parts has a 1-year low of $87.26 and a 1-year high of $115.20.
Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, October 17th. The specialty retailer reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Genuine Parts had a return on equity of 23.20% and a net margin of 4.14%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. On average, research analysts expect that Genuine Parts will post 5.66 EPS for the current year.
A number of brokerages recently issued reports on GPC. Bank of America lifted their target price on Genuine Parts from $100.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $114.00 to $104.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Raymond James began coverage on Genuine Parts in a report on Monday, October 7th. They issued a “market perform” rating on the stock. Royal Bank of Canada set a $99.00 target price on Genuine Parts and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group set a $102.00 target price on Genuine Parts and gave the stock a “hold” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $103.75.
Genuine Parts Company 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.
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