Genuine Parts Co. (NYSE:GPC) gapped up before the market opened on Thursday . The stock had previously closed at $101.14, but opened at $101.21. Genuine Parts shares last traded at $101.76, with a volume of 248,297 shares trading hands.

Several equities research analysts recently commented on GPC shares. Gabelli lowered Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 target price on the stock. in a research report on Thursday, July 14th. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Jefferies Group lowered Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a research report on Friday, July 15th. Sterne Agee CRT restated a “neutral” rating on shares of Genuine Parts in a research report on Monday, May 16th. Finally, Wedbush restated a “neutral” rating and set a $91.00 target price (down previously from $98.00) on shares of Genuine Parts in a research report on Wednesday, April 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $99.60.

The company has a market capitalization of $15.11 billion and a PE ratio of 21.92. The company has a 50 day moving average of $101.35 and a 200 day moving average of $96.24.

Genuine Parts (NYSE:GPC) last announced 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. The company earned $3.90 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the company posted $1.28 EPS. On average, analysts predict that Genuine Parts Co. will post $4.73 EPS for the current year.

A number of hedge funds and institutional investors have made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Genuine Parts by 41.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 620,241 shares of the company’s stock worth $53,275,000 after buying an additional 182,680 shares in the last quarter. I.G. Investment Management LTD. increased its position in shares of Genuine Parts by 58.3% in the fourth quarter. I.G. Investment Management LTD. now owns 285,000 shares of the company’s stock worth $24,479,000 after buying an additional 105,000 shares in the last quarter. Morgan Stanley increased its position in shares of Genuine Parts by 14.8% in the fourth quarter. Morgan Stanley now owns 747,259 shares of the company’s stock worth $64,183,000 after buying an additional 96,102 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of Genuine Parts by 8.0% in the fourth quarter. BlackRock Advisors LLC now owns 816,897 shares of the company’s stock worth $70,163,000 after buying an additional 60,305 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Genuine Parts during the fourth quarter worth about $1,612,000.

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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