Genuine Parts (NYSE:GPC) Shares Sold by Boston Private Wealth LLC

Boston Private Wealth LLC cut its holdings in shares of Genuine Parts (NYSE:GPC) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,977 shares of the specialty retailer’s stock after selling 133 shares during the period. Boston Private Wealth LLC’s holdings in Genuine Parts were worth $794,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. 6 Meridian grew its stake in shares of Genuine Parts by 2.2% during the second quarter. 6 Meridian now owns 5,013 shares of the specialty retailer’s stock valued at $519,000 after acquiring an additional 106 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Genuine Parts by 1.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 6,331 shares of the specialty retailer’s stock valued at $656,000 after acquiring an additional 113 shares in the last quarter. Tdam USA Inc. grew its stake in shares of Genuine Parts by 1.7% during the second quarter. Tdam USA Inc. now owns 6,932 shares of the specialty retailer’s stock valued at $718,000 after acquiring an additional 114 shares in the last quarter. World Asset Management Inc grew its stake in shares of Genuine Parts by 1.0% during the second quarter. World Asset Management Inc now owns 11,692 shares of the specialty retailer’s stock valued at $1,211,000 after acquiring an additional 120 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in shares of Genuine Parts by 0.9% during the second quarter. First Citizens Bank & Trust Co. now owns 13,630 shares of the specialty retailer’s stock valued at $1,412,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 77.50% of the company’s stock.

Shares of GPC stock opened at $106.15 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 1.26. Genuine Parts has a one year low of $87.26 and a one year high of $115.20. The company’s 50-day simple moving average is $99.92 and its 200-day simple moving average is $98.64. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 3.56 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last issued 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 net margin of 4.14% and a return on equity of 23.20%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the company posted $1.48 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that Genuine Parts will post 5.66 EPS for the current year.

In other news, insider Randall P. Breaux sold 1,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were 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 of the company’s stock, valued at $234,597.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

Several analysts have recently weighed in on GPC shares. Royal Bank of Canada set a $99.00 target price on Genuine Parts and gave the company a “hold” rating in a research note on Friday, October 18th. Bank of America raised their target price on Genuine Parts from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Goldman Sachs Group cut shares of Genuine Parts from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $101.00 to $93.00 in a research report on Friday, October 25th. Raymond James started coverage on shares of Genuine Parts in a research report on Monday, October 7th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $103.75.

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

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