Huntington National Bank Sells 1,978 Shares of Genuine Parts (NYSE:GPC)

Huntington National Bank decreased its stake in Genuine Parts (NYSE:GPC) by 5.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 37,037 shares of the specialty retailer’s stock after selling 1,978 shares during the quarter. Huntington National Bank’s holdings in Genuine Parts were worth $3,221,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Marshall Wace North America L.P. bought a new position in shares of Genuine Parts during the first quarter valued at $44,000. Investors Research Corp raised its stake in shares of Genuine Parts by 135.5% during the second quarter. Investors Research Corp now owns 391 shares of the specialty retailer’s stock valued at $34,000 after acquiring an additional 225 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Genuine Parts by 374.7% during the first quarter. Meeder Asset Management Inc. now owns 394 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 311 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Genuine Parts during the first quarter valued at $27,000. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in shares of Genuine Parts by 293.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 476 shares of the specialty retailer’s stock valued at $41,000 after acquiring an additional 355 shares during the last quarter. 77.37% of the stock is owned by institutional investors and hedge funds.

NYSE:GPC opened at $90.15 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of -66.78, a PEG ratio of 14.61 and a beta of 1.10. The firm has a fifty day simple moving average of $86.92 and a two-hundred day simple moving average of $83.69. Genuine Parts has a 12 month low of $49.68 and a 12 month high of $108.58.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, July 30th. The specialty retailer reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.39. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $4.45 billion. Genuine Parts had a negative net margin of 1.06% and a positive return on equity of 21.67%. Equities analysts predict that Genuine Parts will post 4.13 earnings per share for the current fiscal year.

Several research firms have recently issued reports on GPC. Bank of America raised their price target on shares of Genuine Parts from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Sunday, April 19th. Royal Bank of Canada raised their price target on shares of Genuine Parts from $80.00 to $90.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $107.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Cfra decreased their price objective on shares of Genuine Parts from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Finally, S&P Equity Research decreased their price objective on shares of Genuine Parts from $85.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $91.14.

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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