BARING ASSET MANAGEMENT Ltd raised its position in shares of Genuine Parts Company (NYSE:GPC) by 13.7% during the second quarter, Holdings Channel reports. The institutional investor owned 19,857 shares of the specialty retailer’s stock after buying an additional 2,386 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Genuine Parts were worth $1,843,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Haverford Financial Services Inc. boosted its position in Genuine Parts by 0.6% in the first quarter. Haverford Financial Services Inc. now owns 3,281 shares of the specialty retailer’s stock valued at $303,000 after buying an additional 20 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Genuine Parts by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 7,359 shares of the specialty retailer’s stock valued at $680,000 after buying an additional 23 shares during the period. Pennsylvania Trust Co boosted its position in Genuine Parts by 0.7% in the second quarter. Pennsylvania Trust Co now owns 3,183 shares of the specialty retailer’s stock valued at $295,000 after buying an additional 23 shares during the period. RNC Capital Management LLC boosted its position in Genuine Parts by 0.5% in the first quarter. RNC Capital Management LLC now owns 7,437 shares of the specialty retailer’s stock valued at $687,000 after buying an additional 34 shares during the period. Finally, CAPROCK Group Inc. boosted its position in Genuine Parts by 1.4% in the second quarter. CAPROCK Group Inc. now owns 2,618 shares of the specialty retailer’s stock valued at $245,000 after buying an additional 35 shares during the period. 73.51% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Company (GPC) opened at 82.25 on Thursday. Genuine Parts Company has a 12-month low of $79.86 and a 12-month high of $105.18. The company has a market capitalization of $12.08 billion, a PE ratio of 17.81 and a beta of 1.04. The stock has a 50 day moving average of $84.82 and a 200 day moving average of $91.31.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by $0.02. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the business earned $1.28 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts predict that Genuine Parts Company will post $4.73 EPS for the current year.

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Several research analysts have commented on GPC shares. Zacks Investment Research cut shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) cut shares of Genuine Parts from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $104.00 to $89.00 in a research report on Thursday, July 6th. BidaskClub cut shares of Genuine Parts from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Wedbush restated a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $96.00 target price on shares of Genuine Parts in a research report on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $96.86.

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

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