Triad Wealth Partners LLC Invests $40,000 in Genuine Parts (NYSE:GPC)

Triad Wealth Partners LLC acquired a new position in Genuine Parts (NYSE:GPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 291 shares of the specialty retailer’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fiduciary Financial Group LLC bought a new stake in shares of Genuine Parts in the second quarter valued at approximately $324,000. Brown Lisle Cummings Inc. purchased a new position in Genuine Parts in the 2nd quarter valued at approximately $202,000. Welch Group LLC raised its holdings in Genuine Parts by 44.0% during the 2nd quarter. Welch Group LLC now owns 13,091 shares of the specialty retailer’s stock valued at $1,811,000 after acquiring an additional 4,001 shares during the period. Archford Capital Strategies LLC lifted its position in shares of Genuine Parts by 1.8% during the second quarter. Archford Capital Strategies LLC now owns 5,423 shares of the specialty retailer’s stock worth $750,000 after acquiring an additional 97 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of Genuine Parts by 0.7% in the second quarter. Wedge Capital Management L L P NC now owns 86,618 shares of the specialty retailer’s stock worth $11,981,000 after acquiring an additional 635 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

Shares of NYSE GPC traded up $0.35 during mid-day trading on Friday, reaching $138.91. 624,101 shares of the company were exchanged, compared to its average volume of 1,013,090. The company’s 50 day moving average price is $138.92 and its 200 day moving average price is $146.27. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $19.35 billion, a PE ratio of 15.48 and a beta of 0.92. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on GPC. Jefferies Financial Group increased 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. Truist Financial reduced their price objective on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Wedbush reduced their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, UBS Group lowered their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $161.14.

Insider Activity

In related news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

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.