Nixon Peabody Trust Co. Sells 750 Shares of Genuine Parts Company $GPC

Nixon Peabody Trust Co. lessened its position in Genuine Parts Company (NYSE:GPC) by 21.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,750 shares of the specialty retailer’s stock after selling 750 shares during the period. Nixon Peabody Trust Co.’s holdings in Genuine Parts were worth $334,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GPC. Penserra Capital Management LLC increased its holdings in shares of Genuine Parts by 12.2% during the 2nd quarter. Penserra Capital Management LLC now owns 747 shares of the specialty retailer’s stock worth $90,000 after acquiring an additional 81 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Genuine Parts by 3.3% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 2,577 shares of the specialty retailer’s stock worth $313,000 after buying an additional 82 shares during the period. Diversified Trust Co grew its stake in Genuine Parts by 1.8% in the 2nd quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock valued at $562,000 after buying an additional 83 shares during the last quarter. Brown Lisle Cummings Inc. boosted its holdings in shares of Genuine Parts by 5.7% during the second quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer’s stock worth $187,000 after acquiring an additional 83 shares during the period. Finally, Oak Asset Management LLC increased its stake in shares of Genuine Parts by 0.6% during the second quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer’s stock worth $1,633,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $127.65 on Friday. The company has a market cap of $17.76 billion, a P/E ratio of 21.97 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average price of $133.92 and a two-hundred day moving average price of $129.77. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $143.48.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the prior year, the business earned $1.88 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Insider Activity

In related news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction on Friday, September 26th. The shares were sold at an average price of $138.12, for a total transaction of $732,450.36. Following the transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on GPC. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. Loop Capital lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Truist Financial upped their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and increased their price target for the company from $130.00 to $142.00 in a research note on Thursday. Finally, Evercore ISI upped their target price on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and an average price target of $148.00.

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.