Huntington National Bank lowered its stake in Genuine Parts (NYSE:GPC) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,037 shares of the specialty retailer’s stock after selling 1,978 shares during the period. Huntington National Bank’s holdings in Genuine Parts were worth $3,221,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Marshall Wace North America L.P. acquired a new stake in Genuine Parts during the 1st quarter worth $44,000. FMR LLC grew its holdings in shares of Genuine Parts by 0.3% in the 1st quarter. FMR LLC now owns 176,981 shares of the specialty retailer’s stock valued at $19,827,000 after buying an additional 591 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Genuine Parts in the 4th quarter valued at $916,000. Profund Advisors LLC grew its holdings in shares of Genuine Parts by 7.7% in the 4th quarter. Profund Advisors LLC now owns 2,810 shares of the specialty retailer’s stock valued at $299,000 after buying an additional 202 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in shares of Genuine Parts by 93.0% in the 4th quarter. Macquarie Group Ltd. now owns 5,404 shares of the specialty retailer’s stock valued at $574,000 after buying an additional 2,604 shares during the period. 77.37% of the stock is owned by institutional investors and hedge funds.
GPC opened at $90.15 on Friday. The stock has a market capitalization of $13.01 billion, a P/E ratio of -66.78, a P/E/G ratio of 14.61 and a beta of 1.10. Genuine Parts has a 12 month low of $49.68 and a 12 month high of $108.58. The firm’s fifty day simple moving average is $86.92 and its 200 day simple moving average is $83.69. The company has a current ratio of 1.22, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 30th. The specialty retailer reported $1.32 EPS for the quarter, topping the consensus estimate of $0.93 by $0.39. Genuine Parts had a negative net margin of 1.06% and a positive return on equity of 21.67%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $4.45 billion. On average, equities research analysts predict that Genuine Parts will post 4.13 EPS for the current fiscal year.
Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Genuine Parts from $107.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Bank of America boosted their price target on shares of Genuine Parts from $78.00 to $82.00 and gave the company a “buy” rating in a report on Sunday, April 19th. Royal Bank of Canada boosted their price target on shares of Genuine Parts from $80.00 to $90.00 and gave the company a “sector perform” rating in a report on Tuesday, July 28th. Cfra decreased their price target on shares of Genuine Parts from $100.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Finally, S&P Equity Research decreased their price target on shares of Genuine Parts from $85.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $91.14.
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.
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