Greenleaf Trust Maintains Position in Genuine Parts Co. (GPC)
Greenleaf Trust held its position in Genuine Parts Co. (NYSE:GPC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the company’s stock at the end of the second quarter. Greenleaf Trust’s holdings in Genuine Parts were worth $709,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in GPC. Aviva PLC increased its position in Genuine Parts by 0.9% in the first quarter. Aviva PLC now owns 77,863 shares of the company’s stock valued at $7,736,000 after buying an additional 732 shares during the last quarter. ING Groep NV bought a new position in Genuine Parts during the first quarter valued at $337,000. M&T Bank Corp increased its position in Genuine Parts by 3.8% in the first quarter. M&T Bank Corp now owns 42,124 shares of the company’s stock valued at $4,185,000 after buying an additional 1,554 shares during the last quarter. Royce & Associates LP increased its position in Genuine Parts by 21.4% in the first quarter. Royce & Associates LP now owns 127,149 shares of the company’s stock valued at $12,634,000 after buying an additional 22,449 shares during the last quarter. Finally, Advisor Partners LLC increased its position in Genuine Parts by 9.6% in the first quarter. Advisor Partners LLC now owns 3,603 shares of the company’s stock valued at $358,000 after buying an additional 316 shares during the last quarter. 71.56% of the stock is owned by institutional investors.
Shares of Genuine Parts Co. (NYSE:GPC) traded up 0.36% on Thursday, hitting $99.27. The company’s stock had a trading volume of 279,564 shares. The stock has a market capitalization of $14.78 billion, a P/E ratio of 21.44 and a beta of 0.92. The stock’s 50 day moving average price is $100.74 and its 200 day moving average price is $99.12. Genuine Parts Co. has a 52 week low of $76.50 and a 52 week high of $105.97.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by $0.01. The company earned $3.90 billion during the quarter, compared to the consensus estimate of $3.97 billion. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. During the same period in the prior year, the company posted $1.28 EPS. On average, analysts forecast that Genuine Parts Co. will post $4.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were issued a $0.6575 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.63 annualized dividend and a dividend yield of 2.66%. Genuine Parts’s dividend payout ratio is currently 56.68%.
Several research firms have weighed in on GPC. Gabelli downgraded Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 price target for the company. in a research report on Thursday, July 14th. Susquehanna began coverage on Genuine Parts in a report on Thursday, August 25th. They set a “neutral” rating and a $102.00 price objective on the stock. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating and set a $115.00 price objective on the stock in a report on Friday, July 15th. Jefferies Group cut Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 price objective on the stock. in a report on Friday, July 15th. Finally, Argus restated a “buy” rating and set a $108.00 price objective (up previously from $106.00) on shares of Genuine Parts in a report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Genuine Parts currently has an average rating of “Hold” and an average target price of $99.82.
Genuine Parts Company 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.
Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts Co. (NYSE:GPC).
Receive News & Ratings for Genuine Parts Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts Co. and related companies with MarketBeat.com's FREE daily email newsletter.