Jacobs Levy Equity Management Inc. Has $35.81 Million Position in Genuine Parts (NYSE:GPC)

Jacobs Levy Equity Management Inc. boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 231,159 shares of the specialty retailer’s stock after acquiring an additional 2,057 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Genuine Parts were worth $35,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GPC. Norges Bank acquired a new stake in shares of Genuine Parts in the 4th quarter valued at $215,643,000. International Assets Investment Management LLC raised its holdings in shares of Genuine Parts by 15,175.4% in the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after buying an additional 708,388 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Genuine Parts by 3,029.9% in the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after buying an additional 368,470 shares during the last quarter. Finally, Morningstar Investment Services LLC raised its holdings in shares of Genuine Parts by 161.2% in the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after buying an additional 357,091 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by insiders.

Genuine Parts Trading Up 3.0 %

Shares of Genuine Parts stock traded up $4.30 during trading on Tuesday, hitting $147.09. 939,590 shares of the company were exchanged, compared to its average volume of 1,024,041. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The firm’s fifty day moving average price is $140.11 and its 200 day moving average price is $146.44. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The firm has a market capitalization of $20.49 billion, a P/E ratio of 16.16 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Genuine Parts’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial cut their price target on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Wedbush cut their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. UBS Group dropped their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, Jefferies Financial Group boosted their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $161.14.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.