Tower Research Capital LLC TRC Cuts Stake in Genuine Parts Company (NYSE:GPC)
Tower Research Capital LLC TRC cut its position in shares of Genuine Parts Company (NYSE:GPC) by 19.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,395 shares of the specialty retailer’s stock after selling 816 shares during the period. Tower Research Capital LLC TRC’s holdings in Genuine Parts were worth $314,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Pinnacle Bank purchased a new position in shares of Genuine Parts during the first quarter valued at about $115,000. Global X Management Co. LLC raised its position in Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock worth $152,000 after buying an additional 373 shares in the last quarter. Washington Trust Bank raised its stake in shares of Genuine Parts by 334.3% in the first quarter. Washington Trust Bank now owns 1,963 shares of the specialty retailer’s stock worth $181,000 after buying an additional 1,511 shares in the last quarter. Tompkins Financial Corp raised its stake in shares of Genuine Parts by 146.7% in the first quarter. Tompkins Financial Corp now owns 1,875 shares of the specialty retailer’s stock worth $186,000 after buying an additional 1,115 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Genuine Parts during the first quarter worth $208,000. 73.21% of the stock is currently owned by institutional investors.
Shares of Genuine Parts Company (NYSE GPC) traded down 0.38% during mid-day trading on Thursday, hitting $84.11. 560,867 shares of the stock traded hands. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 18.21 and a beta of 1.05. Genuine Parts Company has a 52 week low of $80.86 and a 52 week high of $105.18. The stock has a 50-day moving average of $87.69 and a 200-day moving average of $92.39.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the firm posted $1.28 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that Genuine Parts Company will post $4.73 EPS for the current year.
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A number of research firms have recently issued reports on GPC. BidaskClub downgraded shares of Genuine Parts from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Gabelli upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research report on Friday, July 21st. Royal Bank Of Canada lifted their price objective on Genuine Parts from $94.00 to $96.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 20th. Zacks Investment Research downgraded Genuine Parts from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $104.00 price objective (up from $98.00) on shares of Genuine Parts in a research report on Saturday, April 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target 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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