Burgundy Asset Management LTD Has Decreased United Technologies Corp. (UTX) Position By $6.75 Million; Shorts at Genuine Parts Company (GPC) Lowered By 16.41%

June 14, 2018 - By Peter Kolinski

Genuine Parts Company (NYSE:GPC) Logo

Burgundy Asset Management Ltd decreased United Technologies Corp. (UTX) stake by 1.56% reported in 2018Q1 SEC filing. Burgundy Asset Management Ltd sold 54,026 shares as United Technologies Corp. (UTX)’s stock declined 6.23%. The Burgundy Asset Management Ltd holds 3.41M shares with $429.60M value, down from 3.47M last quarter. United Technologies Corp. now has $101.66 billion valuation. The stock increased 0.09% or $0.12 during the last trading session, reaching $127.06. About 1.82 million shares traded. United Technologies Corporation (NYSE:UTX) has risen 3.91% since June 14, 2017 and is uptrending. It has underperformed by 8.66% the S&P500. Some Historical UTX News: ; 12/03/2018 – NEW DELHI (Reuters) — India’s aviation regulator on Monday ordered immediate grounding of certain Airbus A320neo aircraft operated by IndiGo Airlines and GoAir fitted with Pratt & Whitney engines made by United Technologies Corp; 24/04/2018 – UNITED TECHNOLOGIES SEES FY ADJ EPS $6.95 TO $7.15, EST. $7.07; 16/03/2018 – UTX CFO: PRICE INCREASES FROM TARIFFS LIKELY PASS TO CUSTOMERS; 08/03/2018 – BOEING CEO SAYS PRIORITIES FOR CASH REMAIN ORGANIC INVESTMENT, RETURN TO SHAREHOLDERS FOLLOWED BY M&A; 06/03/2018 – RadioResource: UTC Asks for NTIA Support on Spectrum for Utilities; 16/03/2018 – UTX’S MARKS:OTIS GAINING CHINA ELEVATOR EQUIPMENT MARKET SHARE; 15/05/2018 – EcoEnergy Insights Launches CORTIX™ – The Intelligent IoT Platform For Buildings; 19/03/2018 – Boeing Ends Objection to United Technologies, Rockwell Merger; 24/04/2018 – Airbus CEO says post-Brexit production shift open for discussion; 24/04/2018 – UTX CFO: 1Q GTF DELIVERIES LOWER THAN EXPECTED, ON TRACK FOR YR

Genuine Parts Company (NYSE:GPC) had a decrease of 16.41% in short interest. GPC’s SI was 2.97 million shares in June as released by FINRA. Its down 16.41% from 3.56M shares previously. With 1.02 million avg volume, 3 days are for Genuine Parts Company (NYSE:GPC)’s short sellers to cover GPC’s short positions. The SI to Genuine Parts Company’s float is 2.07%. The stock decreased 0.25% or $0.24 during the last trading session, reaching $94.12. About 283,856 shares traded. Genuine Parts Company (NYSE:GPC) has risen 0.13% since June 14, 2017 and is uptrending. It has underperformed by 12.44% the S&P500. Some Historical GPC News: ; 12/04/2018 – Essendant to Merge with Genuine Parts Co. Business; 16/05/2018 – Essendant Confirms Receipt Of Two Proposals: An Unsolicited All-Cash Offer From Staples, Inc. And A Contingent Cash Payment From Genuine Parts Company As An Enhancement To The Agreed Upon Merger; 16/05/2018 – STAPLES – ON APRIL 27, ESSENDANT INFORMED IT WAS NOT ABLE TO ENTER DISCUSSIONS WITH STAPLES UNDER TERMS OF AGREEMENT BETWEEN ESSENDANT, GENUINE PARTS; 12/04/2018 – Genuine Parts Holders to Own About 51% of Combined Company; 12/04/2018 – ESSENDANT – COMBINED CO EXPECTS 90% OF COST SYNERGIES TO BE REALIZED WITHIN 2 YEARS POST-CLOSING & TO INCUR LESS THAN $50 MLN IN ONE-TIME CASH COSTS; 23/04/2018 – Genuine Parts Company Declares Regular Quarterly Dividend; 19/04/2018 – GENUINE PARTS CO GPC.N FY2018 SHR VIEW $5.72, REV VIEW $18.31 BLN — THOMSON REUTERS l/B/E/S; 19/04/2018 – GENUINE PARTS SEES TAX RATE OF ABOUT 26.0%, SAW 26.0 TO 27.0%; 12/04/2018 – ESSENDANT INC – COMBINED COMPANY WILL MAINTAIN HEADQUARTERS IN BOTH DEERFIELD, IL AND ATLANTA, GA; 16/05/2018 – STAPLES – ON MAY 10, ESSENDANT SENT DRAFT OF ‘

More notable recent Genuine Parts Company (NYSE:GPC) news were published by: Seekingalpha.com which released: “Genuine Parts comments on Staples-Essendant deal” on May 17, 2018, also Livetradingnews.com with their article: “Genuine Parts Company (NYSE:GPC) Bullish Trend” published on June 01, 2018, Streetinsider.com published: “Essendant (ESND) Provides Update On Proposed Merger With GPC’s (GPC) SP Richards Business” on June 06, 2018. More interesting news about Genuine Parts Company (NYSE:GPC) were released by: Streetinsider.com and their article: “Genuine Parts (GPC) to Acquire Hennig Fahrzeugteile Group” published on June 07, 2018 as well as Bizjournals.com‘s news article titled: “Atlanta loses another great leader – Wilton Looney at 99” with publication date: June 04, 2018.

Among 13 analysts covering Genuine Parts Company (NYSE:GPC), 1 have Buy rating, 2 Sell and 10 Hold. Therefore 8% are positive. Genuine Parts Company had 34 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Genuine Parts Company (NYSE:GPC) has “Neutral” rating given on Wednesday, December 14 by Atlantic Securities. Goldman Sachs downgraded the stock to “Sell” rating in Wednesday, September 30 report. The firm has “Neutral” rating by JP Morgan given on Wednesday, February 21. The firm earned “Neutral” rating on Friday, April 13 by Bank of America. As per Wednesday, October 11, the company rating was maintained by Jefferies. As per Thursday, July 20, the company rating was maintained by RBC Capital Markets. RBC Capital Markets maintained the stock with “Hold” rating in Friday, May 26 report. The rating was upgraded by Gabelli on Tuesday, October 20 to “Buy”. The stock of Genuine Parts Company (NYSE:GPC) has “Sector Perform” rating given on Thursday, April 20 by RBC Capital Markets. Guggenheim initiated the stock with “Hold” rating in Tuesday, April 17 report.

Investors sentiment increased to 0.95 in Q1 2018. Its up 0.01, from 0.94 in 2017Q4. It is positive, as 33 investors sold Genuine Parts Company shares while 206 reduced holdings. 62 funds opened positions while 164 raised stakes. 104.87 million shares or 1.34% less from 106.29 million shares in 2017Q4 were reported. Neuberger Berman Group Ltd Limited Liability Company accumulated 14,779 shares. Westwood Hldgs Grp Inc has invested 0.04% of its portfolio in Genuine Parts Company (NYSE:GPC). Bahl And Gaynor reported 48,050 shares. Principal Fincl Gru holds 0.02% or 221,828 shares. D E Shaw And Company invested in 14,664 shares. Korea Invest holds 0.01% in Genuine Parts Company (NYSE:GPC) or 26,442 shares. Illinois-based Gofen And Glossberg Ltd Liability Corporation Il has invested 0.01% in Genuine Parts Company (NYSE:GPC). Amundi Pioneer Asset holds 0.04% in Genuine Parts Company (NYSE:GPC) or 286,907 shares. Covington Cap stated it has 30,934 shares. Sumitomo Mitsui accumulated 441,613 shares. First Natl Company reported 26,057 shares. Oakbrook Invs Ltd Liability Company holds 0.04% or 6,700 shares in its portfolio. Raymond James Serv Advsr, Florida-based fund reported 47,431 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has 28,208 shares for 0.02% of their portfolio. Synovus invested 0.44% in Genuine Parts Company (NYSE:GPC).

Genuine Parts Company distributes automotive replacement parts, industrial replacement parts, office products, and electrical/electronic materials in the United States, Canada, Australia, New Zealand, Mexico, and Puerto Rico. The company has market cap of $13.81 billion. It distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items used in the automotive aftermarket, including repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores. It has a 21.89 P/E ratio. The firm also distributes industrial replacement parts and related supplies, such as bearings, mechanical and electrical power transmission products, industrial automation products, hoses, hydraulic and pneumatic components, industrial supplies, and material handling products primarily for food and beverage, forest products, primary metal, pulp and paper, mining, automotive, gas and oil, petrochemical, and pharmaceutical industries through 483 branches, 13 distribution centers, and 43 service centers.

More notable recent United Technologies Corporation (NYSE:UTX) news were published by: Seekingalpha.com which released: “United Technologies’ Accelerating Growth” on June 08, 2018, also Seekingalpha.com with their article: “Engine makers on track with A320 recovery plan” published on June 14, 2018, Seekingalpha.com published: “You’re Better Off Sitting On The Sidelines In The United Technologies And Rockwell Collins Deal” on June 05, 2018. More interesting news about United Technologies Corporation (NYSE:UTX) were released by: Seekingalpha.com and their article: “Cisco Is A High Quality Stock – Cramer’s Lightning Round (6/8/18)” published on June 11, 2018 as well as Streetinsider.com‘s news article titled: “Engine makers on track with recovery plan for A320 engines, Airbus says” with publication date: June 14, 2018.

Since December 15, 2017, it had 1 buying transaction, and 5 insider sales for $2.57 million activity. $546,600 worth of United Technologies Corporation (NYSE:UTX) was sold by Amato Elizabeth B. $1.25M worth of United Technologies Corporation (NYSE:UTX) shares were sold by Gill Charles D. 864 United Technologies Corporation (NYSE:UTX) shares with value of $108,873 were sold by Bailey Robert J.. MCDONOUGH ROBERT J sold $1.28 million worth of United Technologies Corporation (NYSE:UTX) on Wednesday, May 2. Shares for $1.09 million were bought by Reynolds Fredric G. JOHRI AKHIL also sold $803,037 worth of United Technologies Corporation (NYSE:UTX) shares.

Analysts await United Technologies Corporation (NYSE:UTX) to report earnings on July, 24. They expect $1.83 EPS, down 1.08% or $0.02 from last year’s $1.85 per share. UTX’s profit will be $1.46B for 17.36 P/E if the $1.83 EPS becomes a reality. After $1.77 actual EPS reported by United Technologies Corporation for the previous quarter, Wall Street now forecasts 3.39% EPS growth.

Burgundy Asset Management Ltd increased Gartner Inc (NYSE:IT) stake by 13,738 shares to 411,321 valued at $48.38 million in 2018Q1. It also upped Enbridge Inc. (NYSE:ENB) stake by 287,639 shares and now owns 7.36 million shares. Ss&C Technologies Holdings Inc. (NASDAQ:SSNC) was raised too.

Genuine Parts Company (NYSE:GPC) Institutional Positions Chart

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