Genuine Parts Co. (GPC) Stake Cut by Exxonmobil Investment Management Inc. TX
Exxonmobil Investment Management Inc. TX lowered its position in Genuine Parts Co. (NYSE:GPC) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,023 shares of the company’s stock after selling 707 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Genuine Parts were worth $3,819,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Dorsey & Whitney Trust CO LLC increased its position in shares of Genuine Parts by 0.3% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,776 shares of the company’s stock worth $281,000 after buying an additional 7 shares during the period. Winslow Evans & Crocker Inc. increased its position in Genuine Parts by 0.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 6,428 shares of the company’s stock valued at $651,000 after buying an additional 20 shares during the last quarter. BKS Advisors LLC increased its position in Genuine Parts by 0.8% in the second quarter. BKS Advisors LLC now owns 2,547 shares of the company’s stock valued at $258,000 after buying an additional 21 shares during the last quarter. Balentine LLC increased its position in Genuine Parts by 0.4% in the second quarter. Balentine LLC now owns 6,279 shares of the company’s stock valued at $636,000 after buying an additional 24 shares during the last quarter. Finally, Concert Wealth Management Inc. increased its position in Genuine Parts by 0.7% in the second quarter. Concert Wealth Management Inc. now owns 4,684 shares of the company’s stock valued at $475,000 after buying an additional 32 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.
Genuine Parts Co. (NYSE:GPC) traded down 0.87% during midday trading on Monday, reaching $97.05. The company’s stock had a trading volume of 614,455 shares. Genuine Parts Co. has a 12 month low of $76.50 and a 12 month high of $105.97. The stock has a 50-day moving average price of $93.43 and a 200 day moving average price of $98.08. The company has a market cap of $14.43 billion, a PE ratio of 20.97 and a beta of 0.91.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by $0.05. The company earned $3.94 billion during the quarter, compared to the consensus estimate of $4.03 billion. Genuine Parts had a return on equity of 21.43% and a net margin of 4.57%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm posted $1.24 EPS. Analysts expect that Genuine Parts Co. will post $4.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a $0.6575 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.71%. Genuine Parts’s dividend payout ratio (DPR) is presently 56.68%.
Several equities analysts have recently commented on GPC shares. Susquehanna started coverage on Genuine Parts in a research report on Thursday, August 25th. They issued a “neutral” rating and a $102.00 target price on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $95.00 target price (down previously from $105.00) on shares of Genuine Parts in a research report on Wednesday, October 19th. Finally, Wedbush decreased their target price on Genuine Parts from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Genuine Parts presently has an average rating of “Hold” and a consensus price target of $98.80.
In related news, Chairman Thomas Gallagher purchased 3,000 shares of the stock in a transaction that occurred on Thursday, October 20th. The shares were bought at an average price of $89.24 per share, with a total value of $267,720.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.
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.
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