Genuine Parts (NYSE:GPC) Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont reduced its stake in shares of Genuine Parts (NYSE:GPC) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,872 shares of the specialty retailer’s stock after selling 610 shares during the period. Trust Co. of Vermont’s holdings in Genuine Parts were worth $1,089,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPC. DAVENPORT & Co LLC increased its holdings in shares of Genuine Parts by 99.4% in the 4th quarter. DAVENPORT & Co LLC now owns 12,161 shares of the specialty retailer’s stock valued at $1,684,000 after purchasing an additional 6,062 shares during the period. Trust Point Inc. bought a new stake in Genuine Parts in the fourth quarter valued at about $377,000. Arizona State Retirement System raised its holdings in shares of Genuine Parts by 0.7% in the 4th quarter. Arizona State Retirement System now owns 38,598 shares of the specialty retailer’s stock worth $5,346,000 after buying an additional 262 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Genuine Parts by 15,175.4% during 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 acquiring an additional 708,388 shares during the period. Finally, Allworth Financial LP boosted its position in Genuine Parts by 3.4% in the fourth quarter. Allworth Financial LP now owns 4,039 shares of the specialty retailer’s stock valued at $559,000 after buying an additional 134 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Up 1.2 %

Shares of GPC traded up $1.69 during trading hours on Tuesday, reaching $140.04. The stock had a trading volume of 804,196 shares, compared to its average volume of 1,033,441. The company has a market cap of $19.51 billion, a P/E ratio of 15.61 and a beta of 0.92. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. 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 firm has a 50-day moving average of $139.70 and a 200 day moving average of $146.59.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results 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 return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the company earned $2.44 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts expect that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on GPC shares. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Wedbush reduced their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Truist Financial cut their price target on Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group decreased their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $161.14.

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.