Genuine Parts Company (NYSE:GPC) Sees Significantly Higher Trading Volume


(NYSE:GPC) shares saw heavy trading volume with 1,099K shares changing hands by the end of trading on Friday. Overall, volume was up 49.18% over the stocks normal daily volume.

The following firms have also recently changed their position in GPC. BTR Capital Management Inc trimmed its position by shedding 850 shares a decrease of 25.0% in the quarter. BTR Capital Management Inc now holds 2,550 shares with a value of $237,000. The value of the position overall is down by 24.5%. As of the end of the quarter Hallmark Capital Management Inc had disposed of 400 shares trimming its position 2.6%. The value in dollars went from $1,397,000 to $1,366,000 decreasing 2.2% quarter over quarter.

As of quarter end Chesley Taft & Associates LLC had sold a total of 25 shares trimming its holdings by 0.4%. The value of the total investment in Genuine Parts Company decreased from $598,000 to $598,000 a change of 0.0% for the reporting period. Chevy Chase Trust Holdings, Inc. downsized its ownership by selling 137 shares a decrease of 4.5% from 03/31/2017 to 06/30/2017. Chevy Chase Trust Holdings, Inc. owns 2,895 shares worth $269,000. The total value of its holdings decreased 3.9%.

Atlantic Equities initiated coverage on GPC by announcing an initial rating of “Neutral”. On August 25 analysts at Susquehanna began coverage giving it an initial rating of “Hold”.

On July 15, 2016 the stock rating was rated “Hold” according to a Jefferies report a cut from the previous “Buy” rating. On July 14 the company was changed to a “Hold” by Gabelli & Co. which was a cut from the previous “Buy” rating.

On July 14 the stock rating was downgraded to “Hold” from “Buy” in an announcement from Gabellu & Co.. On February 17 the company was downgraded from “Outperform” to “Neutral” and a price target of $91.00 was set by analysts at Wedbush.

The company is trading down by -0.42% since yesterday’s close of…

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