Institutional Heat: Gabelli Funds LLC Has Cut Holding in Genuine Parts Co (GPC) as Shares Declined

Institutional Heat: Gabelli Funds LLC Has Cut Holding in Genuine Parts Co (GPC) as Shares Declined

Gabelli Funds Llc decreased its stake in Genuine Parts Co (GPC) by 5.15% based on its latest 2016Q3 regulatory filing with the SEC. Gabelli Funds Llc sold 87,000 shares as the company’s stock declined 1.65% while stock markets rallied. The institutional investor held 1.60 million shares of the automotive aftermarket company at the end of 2016Q3, valued at $160.88 million, down from 1.69M at the end of the previous reported quarter. Gabelli Funds Llc who had been investing in Genuine Parts Co for a number of months, seems to be less bullish one the $14.64 billion market cap company. The stock is down 0.09% or $0.09 after the negative news, hitting $97.19 per share. About 258,921 shares traded hands. Genuine Parts Company (NYSE:GPC) has declined 0.19% since June 7, 2016 and is downtrending. It has underperformed by 7.62% the S&P500.

Gabelli Funds Llc, which manages about $25.90 billion and $16.85B US Long portfolio, upped its stake in Cst Brands Inc Com (NYSE:CST) by 312,374 shares to 1.87M shares, valued at $89.70 million in 2016Q3, according to the filing. It also increased its holding in Adeptus Health Inc Cl A (NYSE:ADPT) by 127,791 shares in the quarter, for a total of 182,000 shares, and has risen its stake in Schlumberger (NYSE:SLB).

Gabelli Funds Llc is a New York-based institutional investor with more than $25.90 billion AUM in March, 2014. Taken from Gabelli Funds latest Adv, the fund reported to have 39 full and part-time employees. Among which 18 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

Insitutional Activity: The institutional sentiment increased to 1.2 in 2016 Q3. Its up 0.05, from 1.15 in 2016Q2. The ratio is positive, as 27 funds sold all GPC shares owned while 200 reduced positions. 69 funds bought stakes while 204 increased positions. They now own 102.63 million shares or 1.30% less from 103.98 million shares in 2016Q2. Cambridge Tru Communications has 103,673 shares for 0.76% of their US portfolio. Huntington Bancshares has invested 0.27% of its portfolio in Genuine Parts Company (NYSE:GPC). Tiemann Advsr Lc reported 3,375 shares or 0.31% of all its holdings. Us National Bank & Trust De has invested 0.02% of its portfolio in Genuine Parts Company (NYSE:GPC). Stratos Wealth Prtnrs Limited has 0.06% invested in the company for 8,835 shares. Meyer Handelman Com reported 161,988 shares or 0.73% of all its holdings. Hendershot Invs holds 10,996 shares or 0.55% of its portfolio. Dillon & Assoc Incorporated has 0.2% invested in the company for 4,280 shares. Kbc Grp Nv holds 15,391 shares or 0.02% of its portfolio. Mizuho Tru & Banking Company Limited accumulated 0.07% or 242,986 shares. Regent Invest Limited Liability accumulated 0.17% or 3,165 shares. Bb&T, a North Carolina-based fund reported 205,554 shares. Edge Asset Mngmt holds 0.39% of its portfolio in Genuine Parts Company (NYSE:GPC) for 465,243 shares. Moreover, Crawford Invest Counsel has 2.67% invested in Genuine Parts Company (NYSE:GPC) for 725,243 shares. Orrstown Fincl Services accumulated 755 shares or 0.08% of the stock.

Insider Transactions: Since October 20, 2016, the stock had 1 buy, and 0 insider sales for $267,720 net activity. $267,720 worth of Genuine Parts Company (NYSE:GPC) was bought by GALLAGHER THOMAS.

Analysts await Genuine Parts Company (NYSE:GPC) to report earnings on February, 21. They expect $1.01 EPS, down 5.61% or $0.06 from last year’s $1.07 per share. GPC’s profit will be $152.14M for 24.06 P/E if the $1.01 EPS becomes a reality. After $1.24 actual EPS reported by Genuine Parts Company for the previous quarter, Wall Street now forecasts -18.55% negative EPS growth.

More notable recent Genuine Parts Company (NYSE:GPC) news were published by: Prnewswire.com which released: “Genuine Parts Company Reports Sales And Earnings For The Third Quarter Ended …” on October 19, 2016, also Prnewswire.com with their article: “Genuine Parts Company Announces 3rd Quarter 2016 Earnings Release Date And …” published on September 30, 2016, Prnewswire.com published: “Genuine Parts Company Announces Acquisition Of Safety Products Supplier” on May 19, 2016. More interesting news about Genuine Parts Company (NYSE:GPC) were released by: Prnewswire.com and their article: “Genuine Parts Company Marks 60th Consecutive Year Of Increased Dividends And …” published on February 16, 2016 as well as Prnewswire.com‘s news article titled: “Genuine Parts Company Announces New Chief Executive Officer” with publication date: April 25, 2016.

According to Zacks Investment Research, “GENUINE PARTS COMPANY is a distributor of automotive replacement parts in the U.S., Canada and Mexico. The Company also distributes industrial replacement parts in the U.S. and in Canada through its Motion Industries subsidiary. S. P. Richards Company, the Office Products Group, distributes product nationwide in the U.S. and in Canada. The Electrical/Electronic Group, EIS, Inc., distributes electrical and electronic components throughout the U.S. and in Canada and Mexico.”

Genuine Parts Company (NYSE:GPC) Ratings Coverage

Out of 11 analysts covering Genuine Parts Company (NYSE:GPC), 2 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 18% are positive. Genuine Parts Company has been the topic of 14 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was downgraded by Jefferies to “Hold” on Friday, July 15. The stock has “Hold” rating given by BB&T Capital on Thursday, October 15. The rating was upgraded by Gabelli to “Buy” on Tuesday, October 20. RBC Capital Markets maintained Genuine Parts Company (NYSE:GPC) on Tuesday, July 21 with “Sector Perform” rating. Susquehanna initiated the shares of GPC in a report on Friday, August 26 with “Neutral” rating. The rating was initiated by Jefferies on Tuesday, September 15 with “Buy”. The rating was downgraded by Goldman Sachs to “Sell” on Wednesday, September 30. The rating was downgraded by Gabellu & Co. to “Hold” on Thursday, July 14. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, October 20. The rating was initiated by Atlantic Securities with “Neutral” on Wednesday, December 14.

GPC Company Profile

Genuine Parts Company, incorporated on May 7, 1928, is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s divisions include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other. The Firm conducts its business from approximately 2,650 locations throughout the United States, Canada, Mexico, Australia and New Zealand.

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