Genuine Parts Company (GPC) Shares Bought by First National Trust Co.

First National Trust Co. raised its position in shares of Genuine Parts Company (NYSE:GPC) by 6.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,723 shares of the specialty retailer’s stock after acquiring an additional 1,699 shares during the quarter. First National Trust Co.’s holdings in Genuine Parts were worth $2,843,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. boosted its position in Genuine Parts by 8.8% during the second quarter. BlackRock Inc. now owns 15,716,092 shares of the specialty retailer’s stock valued at $1,457,825,000 after acquiring an additional 1,273,864 shares during the last quarter. Vanguard Group Inc. boosted its position in Genuine Parts by 1.4% during the second quarter. Vanguard Group Inc. now owns 15,648,183 shares of the specialty retailer’s stock valued at $1,451,526,000 after acquiring an additional 218,851 shares during the last quarter. State Street Corp boosted its position in Genuine Parts by 0.7% during the second quarter. State Street Corp now owns 8,733,760 shares of the specialty retailer’s stock valued at $810,144,000 after acquiring an additional 61,398 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Genuine Parts by 13.9% during the second quarter. JPMorgan Chase & Co. now owns 7,150,904 shares of the specialty retailer’s stock valued at $663,318,000 after acquiring an additional 874,466 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Genuine Parts by 3.5% during the second quarter. Wells Fargo & Company MN now owns 2,105,775 shares of the specialty retailer’s stock valued at $195,331,000 after acquiring an additional 70,980 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

GPC has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $95.00 price target on shares of Genuine Parts in a research report on Sunday, September 10th. Royal Bank Of Canada cut their price target on shares of Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, October 20th. Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research report on Friday, July 21st. Finally, BidaskClub raised shares of Genuine Parts from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $96.00.

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Genuine Parts Company (NYSE GPC) traded down $0.11 during mid-day trading on Monday, hitting $85.45. 1,228,100 shares of the stock were exchanged, compared to its average volume of 855,288. The company has a market cap of $12,530.00, a PE ratio of 18.78, a PEG ratio of 3.26 and a beta of 1.11. The company has a quick ratio of 0.62, a current ratio of 1.32 and a debt-to-equity ratio of 0.16. Genuine Parts Company has a one year low of $79.86 and a one year high of $100.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.12). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $4.10 billion. Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. Genuine Parts’s revenue for the quarter was down 72.2% compared to the same quarter last year. During the same period last year, the company earned $1.24 EPS. research analysts forecast that Genuine Parts Company will post 4.58 EPS for the current year.

Genuine Parts declared that its Board of Directors has authorized a stock buyback plan on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Genuine Parts Profile

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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