Mechanics Bank Trust Department decreased its position in Genuine Parts (NYSE:GPC) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,565 shares of the specialty retailer’s stock after selling 621 shares during the period. Mechanics Bank Trust Department’s holdings in Genuine Parts were worth $1,015,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of GPC. Vanguard Group Inc raised its position in shares of Genuine Parts by 1.3% in the third quarter. Vanguard Group Inc now owns 14,954,369 shares of the specialty retailer’s stock valued at $1,486,465,000 after buying an additional 191,348 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Genuine Parts by 4,397.1% in the third quarter. Glenmede Trust Co. NA now owns 5,979,845 shares of the specialty retailer’s stock valued at $594,396,000 after buying an additional 5,846,873 shares during the last quarter. American Century Companies Inc. raised its position in shares of Genuine Parts by 5.5% in the third quarter. American Century Companies Inc. now owns 2,061,657 shares of the specialty retailer’s stock valued at $204,929,000 after buying an additional 107,110 shares during the last quarter. Morgan Stanley increased its position in Genuine Parts by 38.3% during the third quarter. Morgan Stanley now owns 1,233,869 shares of the specialty retailer’s stock worth $122,645,000 after purchasing an additional 341,980 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Genuine Parts by 0.9% during the third quarter. Dimensional Fund Advisors LP now owns 881,458 shares of the specialty retailer’s stock worth $87,617,000 after purchasing an additional 7,507 shares during the last quarter. 81.35% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on GPC. Zacks Investment Research lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Tuesday. Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a research report on Tuesday, January 15th. Bank of America raised shares of Genuine Parts from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 9th. Finally, ValuEngine lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Seven equities research analysts have rated the stock with a hold rating, Genuine Parts currently has an average rating of “Hold” and an average price target of $103.00.
GPC opened at $105.96 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.33 and a debt-to-equity ratio of 0.67. Genuine Parts has a 52-week low of $85.80 and a 52-week high of $106.12. The company has a market cap of $15.09 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 3.43 and a beta of 1.03.
In other Genuine Parts news, Director John R. Holder acquired 500 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was bought at an average cost of $100.81 per share, for a total transaction of $50,405.00. Following the completion of the purchase, the director now directly owns 7,058 shares in the company, valued at $711,516.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by insiders.
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About Genuine Parts
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. 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 through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
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