Plato Investment Management Ltd Boosts Stock Position in Genuine Parts (NYSE:GPC)

Plato Investment Management Ltd grew its stake in shares of Genuine Parts (NYSE:GPC) by 178.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,161 shares of the specialty retailer’s stock after buying an additional 744 shares during the period. Plato Investment Management Ltd’s holdings in Genuine Parts were worth $180,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Manchester Capital Management LLC raised its stake in Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares during the period. North Star Investment Management Corp. increased its stake in Genuine Parts by 8.5% in the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after acquiring an additional 70 shares during the last quarter. CHICAGO TRUST Co NA increased its stake in Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after acquiring an additional 71 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in Genuine Parts by 2.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after acquiring an additional 76 shares during the last quarter. Finally, Grimes & Company Inc. increased its position in shares of Genuine Parts by 2.5% during the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after purchasing an additional 79 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 2.5 %

Shares of GPC stock traded down $3.71 during mid-day trading on Thursday, hitting $143.40. The stock had a trading volume of 1,113,835 shares, compared to its average volume of 1,034,585. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The firm has a market capitalization of $19.98 billion, a P/E ratio of 15.99 and a beta of 0.92. The firm’s 50-day moving average is $139.93 and its two-hundred day moving average is $146.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related 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 in the company, valued at approximately $1,967,677.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts 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.