Whitnell & Co. Raises Stake in Genuine Parts (NYSE:GPC)

Whitnell & Co. boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 102.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,028 shares of the specialty retailer’s stock after acquiring an additional 3,051 shares during the period. Whitnell & Co.’s holdings in Genuine Parts were worth $600,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Montag A & Associates Inc. lifted its holdings in Genuine Parts by 8.4% during the third quarter. Montag A & Associates Inc. now owns 74,510 shares of the specialty retailer’s stock valued at $7,420,000 after purchasing an additional 5,757 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Genuine Parts by 18.7% during the 3rd quarter. First Trust Advisors LP now owns 463,349 shares of the specialty retailer’s stock worth $46,145,000 after purchasing an additional 73,006 shares during the period. Haverford Trust Co. grew its stake in shares of Genuine Parts by 2.6% during the 3rd quarter. Haverford Trust Co. now owns 366,021 shares of the specialty retailer’s stock worth $36,452,000 after purchasing an additional 9,396 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Genuine Parts by 18.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 6,492 shares of the specialty retailer’s stock worth $647,000 after purchasing an additional 997 shares during the period. Finally, Tibra Equities Europe Ltd acquired a new stake in shares of Genuine Parts during the 3rd quarter worth approximately $1,095,000. Institutional investors and hedge funds own 77.50% of the company’s stock.

Shares of NYSE GPC traded down $0.27 during trading on Friday, hitting $106.15. 534,603 shares of the company were exchanged, compared to its average volume of 818,828. Genuine Parts has a 12-month low of $87.26 and a 12-month high of $115.20. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 1.26. The company has a fifty day moving average price of $99.92 and a 200-day moving average price of $98.64. The firm has a market capitalization 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 (NYSE:GPC) last posted its quarterly earnings results on Thursday, October 17th. The specialty retailer reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. Genuine Parts had a return on equity of 23.20% and a net margin of 4.14%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the firm earned $1.48 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Genuine Parts will post 5.66 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on GPC shares. Goldman Sachs Group cut shares of Genuine Parts from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $101.00 to $93.00 in a research note on Friday, October 25th. Royal Bank of Canada set a $99.00 price objective on Genuine Parts and gave the company a “hold” rating in a report on Friday, October 18th. Jefferies Financial Group set a $102.00 price objective on Genuine Parts and gave the company a “hold” rating in a report on Friday, July 19th. Raymond James initiated coverage on Genuine Parts in a report on Monday, October 7th. They issued a “market perform” rating on the stock. Finally, Bank of America raised their price objective on Genuine Parts from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $103.75.

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 approximately $234,597.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is owned by insiders.

About Genuine Parts

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.

Further Reading: Stock Symbols and CUSIP Explained

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

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