Genuine Parts Company $GPC Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Genuine Parts Company (NYSE:GPC) by 1.2% during the second quarter, HoldingsChannel reports. The firm owned 3,511,008 shares of the specialty retailer’s stock after acquiring an additional 40,970 shares during the period. Geode Capital Management LLC’s holdings in Genuine Parts were worth $424,367,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Genuine Parts by 2.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 93,484 shares of the specialty retailer’s stock worth $11,341,000 after purchasing an additional 2,032 shares during the period. Wealth Alliance LLC lifted its position in shares of Genuine Parts by 6.7% in the second quarter. Wealth Alliance LLC now owns 4,688 shares of the specialty retailer’s stock worth $569,000 after purchasing an additional 295 shares in the last quarter. 49 Wealth Management LLC boosted its holdings in shares of Genuine Parts by 22.9% during the second quarter. 49 Wealth Management LLC now owns 2,703 shares of the specialty retailer’s stock worth $328,000 after purchasing an additional 504 shares during the period. Vise Technologies Inc. acquired a new stake in shares of Genuine Parts during the 2nd quarter valued at $897,000. Finally, Allworth Financial LP increased its stake in shares of Genuine Parts by 21.8% in the second quarter. Allworth Financial LP now owns 4,434 shares of the specialty retailer’s stock worth $538,000 after acquiring an additional 793 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group lifted their price target on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. JPMorgan Chase & Co. lifted their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Loop Capital increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. Finally, Truist Financial upped their price target on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Genuine Parts Stock Down 0.3%

Shares of GPC stock opened at $127.30 on Friday. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $143.48. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. The firm has a market cap of $17.71 billion, a PE ratio of 21.91 and a beta of 0.75. The stock has a 50 day moving average of $133.68 and a 200-day moving average of $129.91.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, equities analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Insider Transactions at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the transaction, the executive vice president owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This represents a 16.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is owned by corporate insiders.

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.