Midwest Trust Co Buys Shares of 21,202 Genuine Parts Company $GPC

Midwest Trust Co purchased a new position in Genuine Parts Company (NYSE:GPC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 21,202 shares of the specialty retailer’s stock, valued at approximately $2,572,000.

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

Genuine Parts Trading Down 1.3%

Shares of GPC stock opened at $125.01 on Tuesday. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48. The company has a 50 day moving average price of $134.55 and a 200 day moving average price of $129.73. The stock has a market capitalization of $17.39 billion, a P/E ratio of 21.52 and a beta of 0.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GPC. Loop Capital raised their target price on 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 reissued a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. UBS Group lifted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Evercore ISI increased their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, Truist Financial raised their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Insider Buying and Selling

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the sale, the executive vice president owned 26,112 shares in the company, valued at $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is owned by insiders.

Genuine Parts Company 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.