Trust Co. of Vermont Purchases 2,505 Shares of Genuine Parts (NYSE:GPC)

Trust Co. of Vermont boosted its stake in Genuine Parts (NYSE:GPC) by 31.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,572 shares of the specialty retailer’s stock after acquiring an additional 2,505 shares during the period. Trust Co. of Vermont’s holdings in Genuine Parts were worth $1,095,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Genuine Parts by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,965,765 shares of the specialty retailer’s stock worth $188,434,000 after acquiring an additional 163,768 shares during the period. Northern Trust Corp raised its position in Genuine Parts by 3.2% in the first quarter. Northern Trust Corp now owns 1,789,057 shares of the specialty retailer’s stock worth $200,428,000 after acquiring an additional 56,198 shares during the period. Dimensional Fund Advisors LP raised its position in Genuine Parts by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 904,189 shares of the specialty retailer’s stock worth $86,820,000 after acquiring an additional 22,731 shares during the period. California Public Employees Retirement System raised its position in Genuine Parts by 14.0% in the first quarter. California Public Employees Retirement System now owns 861,503 shares of the specialty retailer’s stock worth $96,514,000 after acquiring an additional 105,784 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Genuine Parts by 16.5% in the first quarter. Parametric Portfolio Associates LLC now owns 810,367 shares of the specialty retailer’s stock worth $90,785,000 after purchasing an additional 114,657 shares in the last quarter. 76.69% of the stock is currently owned by institutional investors and hedge funds.

GPC has been the subject of several recent research reports. Royal Bank of Canada set a $101.00 target price on shares of Genuine Parts and gave the stock a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. reduced their target price on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Jefferies Financial Group set a $102.00 target price on shares of Genuine Parts and gave the stock a “hold” rating in a research note on Friday, July 19th. Stephens initiated coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They issued an “overweight” rating and a $114.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 target price for the company in a research note on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $105.75.

Shares of GPC traded down $1.69 during trading hours on Wednesday, hitting $90.03. The company’s stock had a trading volume of 18,608 shares, compared to its average volume of 907,800. The company has a market cap of $13.20 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 3.15 and a beta of 0.92. The company has a current ratio of 1.26, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company has a 50 day moving average price of $100.81. Genuine Parts has a 52-week low of $89.25 and a 52-week high of $115.20.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.08). The business had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $5 billion. Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. Genuine Parts’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.59 EPS. As a group, sell-side analysts anticipate that Genuine Parts will post 5.7 EPS for the current year.

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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