Vise Technologies Inc. Acquires New Shares in Genuine Parts Company $GPC

Vise Technologies Inc. bought a new position in Genuine Parts Company (NYSE:GPC) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 7,397 shares of the specialty retailer’s stock, valued at approximately $897,000.

A number of other hedge funds also recently added to or reduced their stakes in GPC. Golden State Wealth Management LLC grew its position in shares of Genuine Parts by 8,833.3% during the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock worth $33,000 after acquiring an additional 265 shares during the last quarter. Concord Wealth Partners lifted its position in Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 177 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Genuine Parts by 7,825.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 313 shares during the last quarter. Cromwell Holdings LLC boosted its stake in Genuine Parts by 49.1% during the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 114 shares during the period. Finally, Quaker Wealth Management LLC grew its position in Genuine Parts by 11,533.3% in the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 346 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $127.65 on Friday. The stock has a market cap of $17.76 billion, a price-to-earnings ratio of 21.97 and a beta of 0.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $143.48. The stock’s 50 day moving average price is $133.92 and its 200 day moving average price is $129.77.

Genuine Parts (NYSE:GPC) last issued its quarterly 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). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the previous year, the business posted $1.88 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Truist Financial increased their price objective on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. UBS Group lifted their target price on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Loop Capital boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Evercore ISI increased their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Genuine Parts has an average rating of “Moderate Buy” and an average target price of $148.00.

Insider Buying and Selling at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $138.12, for a total value of $732,450.36. Following the transaction, the executive vice president owned 26,112 shares of the company’s stock, valued at $3,606,589.44. The trade was a 16.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

About Genuine Parts

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.