Genuine Parts Company (GPC) Shares Sold by Schafer Cullen Capital Management Inc.

Schafer Cullen Capital Management Inc. decreased its position in Genuine Parts Company (NYSE:GPC) by 3.2% during the third quarter, Holdings Channel reports. The institutional investor owned 1,151,303 shares of the company’s stock after selling 38,244 shares during the period. Schafer Cullen Capital Management Inc.’s holdings in Genuine Parts Company were worth $115,648,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. Pinnacle Financial Partners Inc. increased its position in shares of Genuine Parts Company by 7.9% in the second quarter. Pinnacle Financial Partners Inc. now owns 19,926 shares of the company’s stock worth $2,050,000 after buying an additional 1,466 shares in the last quarter. Arrow Financial Corp increased its position in shares of Genuine Parts Company by 67.2% in the second quarter. Arrow Financial Corp now owns 13,686 shares of the company’s stock worth $1,386,000 after buying an additional 5,500 shares in the last quarter. Everence Capital Management Inc. increased its position in shares of Genuine Parts Company by 100.6% in the second quarter. Everence Capital Management Inc. now owns 6,180 shares of the company’s stock worth $626,000 after buying an additional 3,100 shares in the last quarter. BB&T Corp increased its position in shares of Genuine Parts Company by 2,198.9% in the second quarter. BB&T Corp now owns 203,477 shares of the company’s stock worth $20,602,000 after buying an additional 194,626 shares in the last quarter. Finally, Concert Wealth Management Inc. increased its position in shares of Genuine Parts Company by 0.7% in the second quarter. Concert Wealth Management Inc. now owns 4,684 shares of the company’s stock worth $475,000 after buying an additional 32 shares in the last quarter. 71.75% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Genuine Parts Company (NYSE:GPC)

Shares of Genuine Parts Company (NYSE:GPC) opened at 99.78 on Monday. The stock has a 50 day moving average price of $97.36 and a 200 day moving average price of $97.78. The firm has a market capitalization of $14.84 billion, a P/E ratio of 21.56 and a beta of 0.93. Genuine Parts Company has a 12-month low of $85.26 and a 12-month high of $105.97.

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A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Genuine Parts Company from a “hold” rating to a “sell” rating in a research report on Wednesday, December 14th. Atlantic Securities initiated coverage on Genuine Parts Company in a report on Wednesday, December 14th. They issued a “neutral” rating and a $100.00 price target for the company. Goldman Sachs Group, Inc. (The) raised Genuine Parts Company from a “sell” rating to a “neutral” rating and upped their price target for the company from $95.00 to $105.00 in a report on Thursday, January 19th. Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts Company in a report on Tuesday, December 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 price target (down from $105.00) on shares of Genuine Parts Company in a report on Wednesday, October 19th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $101.90.

Genuine Parts Company 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.

5 Day Chart for NYSE:GPC

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts Company (NYSE:GPC).

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