Genuine Parts (NYSE:GPC) Stake Lifted by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. increased its stake in shares of Genuine Parts (NYSE:GPC) by 24.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,157 shares of the specialty retailer’s stock after buying an additional 427 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Genuine Parts were worth $334,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the last quarter. WD Rutherford LLC bought a new position in shares of Genuine Parts in the first quarter worth $26,000. Union Savings Bank grew its stake in shares of Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. bought a new position in shares of Genuine Parts in the first quarter worth $35,000. Finally, Stephens Consulting LLC grew its stake in shares of Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GPC has been the subject of several recent analyst reports. Truist Financial decreased their price target on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Evercore ISI decreased their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group decreased their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Wedbush decreased their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Price Performance

GPC stock traded down $0.93 during trading hours on Friday, hitting $142.55. 1,062,183 shares of the stock traded hands, compared to its average volume of 1,034,772. The stock has a 50-day simple moving average of $139.87 and a 200 day simple moving average of $146.50. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The company has a market cap of $19.86 billion, a P/E ratio of 15.89 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 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 company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts forecast that Genuine Parts will post 9.36 earnings per share for the current year.

Insider Activity

In other news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Company Profile

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.