First Long Island Investors LLC Has $11.63 Million Stake in Genuine Parts (GPC)
First Long Island Investors LLC raised its stake in Genuine Parts (NYSE:GPC) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,688 shares of the specialty retailer’s stock after purchasing an additional 4,678 shares during the quarter. Genuine Parts accounts for about 1.7% of First Long Island Investors LLC’s portfolio, making the stock its 28th biggest position. First Long Island Investors LLC owned approximately 0.09% of Genuine Parts worth $11,629,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Millennium Management LLC acquired a new stake in Genuine Parts during the 4th quarter worth $1,179,000. Parkside Financial Bank & Trust boosted its stake in Genuine Parts by 34.7% during the 1st quarter. Parkside Financial Bank & Trust now owns 2,891 shares of the specialty retailer’s stock worth $260,000 after purchasing an additional 745 shares during the period. OLD Dominion Capital Management Inc. boosted its stake in Genuine Parts by 60.9% during the 1st quarter. OLD Dominion Capital Management Inc. now owns 12,603 shares of the specialty retailer’s stock worth $1,132,000 after purchasing an additional 4,769 shares during the period. Wells Fargo & Company MN boosted its stake in Genuine Parts by 1.3% during the 1st quarter. Wells Fargo & Company MN now owns 3,707,945 shares of the specialty retailer’s stock worth $333,122,000 after purchasing an additional 48,871 shares during the period. Finally, Thomaspartners Inc. boosted its stake in Genuine Parts by 3.1% during the 1st quarter. Thomaspartners Inc. now owns 2,195,581 shares of the specialty retailer’s stock worth $197,251,000 after purchasing an additional 66,677 shares during the period. 74.08% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on GPC shares. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. Royal Bank of Canada increased their price target on shares of Genuine Parts to $99.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 12th. Finally, Wedbush increased their price target on shares of Genuine Parts from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $101.50.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, July 19th. The specialty retailer reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.01. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.69 billion. Genuine Parts had a net margin of 3.78% and a return on equity of 21.62%. Genuine Parts’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. equities research analysts forecast that Genuine Parts will post 5.66 earnings per share for the current year.
In other Genuine Parts news, insider James R. Neill sold 512 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $97.94, for a total transaction of $50,145.28. Following the completion of the transaction, the insider now owns 5,661 shares in the company, valued at approximately $554,438.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.
Genuine Parts Profile
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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