Keybank National Association OH decreased its position in shares of Genuine Parts (NYSE:GPC) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,542 shares of the specialty retailer’s stock after selling 2,741 shares during the quarter. Keybank National Association OH’s holdings in Genuine Parts were worth $5,332,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. acquired a new stake in shares of Genuine Parts during the third quarter worth about $90,000. Commonwealth Equity Services LLC lifted its holdings in shares of Genuine Parts by 4.1% during the second quarter. Commonwealth Equity Services LLC now owns 48,509 shares of the specialty retailer’s stock worth $5,024,000 after purchasing an additional 1,926 shares during the period. Neuburgh Advisers LLC lifted its holdings in shares of Genuine Parts by 46.4% during the second quarter. Neuburgh Advisers LLC now owns 7,216 shares of the specialty retailer’s stock worth $747,000 after purchasing an additional 2,288 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Genuine Parts by 5.5% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 20,996 shares of the specialty retailer’s stock worth $2,175,000 after purchasing an additional 1,100 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its holdings in shares of Genuine Parts by 23.0% during the second quarter. Peapack Gladstone Financial Corp now owns 60,184 shares of the specialty retailer’s stock worth $6,234,000 after purchasing an additional 11,268 shares during the period. 77.50% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the company. Raymond James assumed coverage on Genuine Parts in a report on Monday, October 7th. They set a “market perform” rating for the company. 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. 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. Royal Bank of Canada set a $99.00 price target on Genuine Parts and gave the company a “hold” rating in a research report on Friday, October 18th. Finally, Goldman Sachs Group cut Genuine Parts from a “neutral” rating to a “sell” rating and reduced their price target for the company from $101.00 to $93.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $103.75.
In other news, insider Randall P. Breaux sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $107.22, for a total value of $107,220.00. Following the completion of the sale, the insider now directly owns 2,188 shares in the company, valued at $234,597.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by insiders.
GPC stock traded down $0.27 during trading on Friday, hitting $106.15. 534,603 shares of the company traded hands, compared to its average volume of 818,828. The stock’s 50-day simple moving average is $99.92 and its 200 day simple moving average is $98.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68. The company 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. Genuine Parts has a 1 year low of $87.26 and a 1 year high of $115.20.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, October 17th. The specialty retailer reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.03. The company had revenue of $5.02 billion during 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%. Genuine Parts’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business earned $1.48 earnings per share. Research analysts expect that Genuine Parts will post 5.66 earnings per share for the current year.
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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