Stratos Wealth Partners LTD. lowered its position in Genuine Parts Company (NYSE:GPC) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,794 shares of the specialty retailer’s stock after selling 65 shares during the period. Stratos Wealth Partners LTD.’s holdings in Genuine Parts were worth $352,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of GPC. Viking Fund Management LLC bought a new position in Genuine Parts during the first quarter worth about $2,310,000. Tompkins Financial Corp boosted its position in 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 during the period. Integrated Wealth Management boosted its position in Genuine Parts by 2.0% in the first quarter. Integrated Wealth Management now owns 2,618 shares of the specialty retailer’s stock worth $242,000 after buying an additional 52 shares during the period. Parametrica Management Ltd bought a new position in Genuine Parts during the first quarter worth about $401,000. Finally, Capstone Asset Management Co. boosted its position in Genuine Parts by 1.8% in the first quarter. Capstone Asset Management Co. now owns 81,799 shares of the specialty retailer’s stock worth $7,559,000 after buying an additional 1,436 shares during the period. Hedge funds and other institutional investors own 73.51% of the company’s stock.
Genuine Parts Company (NYSE GPC) traded up 0.13% during trading on Friday, hitting $81.60. 698,841 shares of the company’s stock traded hands. The company’s 50 day moving average is $84.25 and its 200-day moving average is $91.13. Genuine Parts Company has a 12 month low of $79.86 and a 12 month high of $105.18. The stock has a market cap of $11.98 billion, a P/E ratio of 17.67 and a beta of 1.04.
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A number of research firms have recently issued reports on GPC. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Zacks Investment Research cut shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research report on Friday, July 21st. BidaskClub raised shares of Genuine Parts from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $96.00 price objective on shares of Genuine Parts in a research report on Thursday, May 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price 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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