Advisory Services Network LLC reduced its stake in Genuine Parts Co. (NYSE:GPC) by 6.9% during the second quarter, Holdings Channel reports. The firm owned 4,415 shares of the company’s stock after selling 328 shares during the period. Advisory Services Network LLC’s holdings in Genuine Parts were worth $447,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Euclid Advisors LLC increased its position in Genuine Parts by 4,294.3% in the first quarter. Euclid Advisors LLC now owns 263,218 shares of the company’s stock valued at $26,153,000 after buying an additional 257,228 shares during the period. Panagora Asset Management Inc. increased its position in Genuine Parts by 1,812.4% in the first quarter. Panagora Asset Management Inc. now owns 176,957 shares of the company’s stock valued at $17,582,000 after buying an additional 167,704 shares during the period. Bank of Montreal Can bought a new position in Genuine Parts during the second quarter valued at approximately $11,153,000. BlackRock Fund Advisors increased its position in Genuine Parts by 2.2% in the first quarter. BlackRock Fund Advisors now owns 4,609,276 shares of the company’s stock valued at $457,978,000 after buying an additional 100,961 shares during the period. Finally, BlackRock Group LTD increased its position in Genuine Parts by 4.0% in the first quarter. BlackRock Group LTD now owns 2,249,724 shares of the company’s stock valued at $223,533,000 after buying an additional 86,219 shares during the period. 71.56% of the stock is currently owned by hedge funds and other institutional investors.
Genuine Parts Co. (NYSE:GPC) traded up 0.31% on Thursday, reaching $99.22. 541,912 shares of the company’s stock were exchanged. Genuine Parts Co. has a one year low of $76.50 and a one year high of $105.97. The firm has a 50 day moving average price of $100.74 and a 200 day moving average price of $99.12. The firm has a market cap of $14.78 billion, a PE ratio of 21.43 and a beta of 0.92.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by $0.01. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. The company earned $3.90 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the prior year, the business posted $1.28 EPS. On average, equities analysts anticipate that Genuine Parts Co. will post $4.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were paid a $0.6575 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $2.63 dividend on an annualized basis and a yield of 2.65%. Genuine Parts’s dividend payout ratio is currently 56.68%.
Several equities analysts have recently commented on GPC shares. Susquehanna started coverage on shares of Genuine Parts in a report on Thursday, August 25th. They issued a “neutral” rating and a $102.00 target price on the stock. Gabelli downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 target price on the stock. in a report on Thursday, July 14th. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Jefferies Group downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 price target on the stock. in a research note on Friday, July 15th. Finally, Wedbush reaffirmed a “neutral” rating and set a $98.00 price target on shares of Genuine Parts in a research note on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Genuine Parts currently has an average rating of “Hold” and a consensus target price of $99.82.
About Genuine Parts
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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