Ellsworth Advisors LLC Raises Holdings in Genuine Parts (NYSE:GPC)

Ellsworth Advisors LLC boosted its stake in shares of Genuine Parts (NYSE:GPC) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,778 shares of the specialty retailer’s stock after buying an additional 721 shares during the period. Ellsworth Advisors LLC’s holdings in Genuine Parts were worth $4,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Triad Wealth Partners LLC acquired a new position in shares of Genuine Parts in the 2nd quarter valued at $40,000. Fiduciary Financial Group LLC purchased a new position in shares of Genuine Parts in the 2nd quarter valued at about $324,000. Brown Lisle Cummings Inc. purchased a new position in Genuine Parts during the 2nd quarter worth approximately $202,000. Welch Group LLC grew its stake in Genuine Parts by 44.0% during the 2nd quarter. Welch Group LLC now owns 13,091 shares of the specialty retailer’s stock worth $1,811,000 after buying an additional 4,001 shares during the last quarter. Finally, Archford Capital Strategies LLC grew its stake in Genuine Parts by 1.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 5,423 shares of the specialty retailer’s stock worth $750,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GPC. Evercore ISI reduced their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Wedbush dropped their target price 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. UBS Group dropped their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, The Goldman Sachs Group decreased their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Up 0.3 %

NYSE GPC traded up $0.35 on Friday, hitting $138.91. 624,101 shares of the stock traded hands, compared to its average volume of 1,013,090. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $138.92 and a 200 day moving average of $146.27. The company has a market capitalization of $19.35 billion, a P/E ratio of 15.48 and a beta of 0.92. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 earnings per share. As a group, analysts expect that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

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.