PNC Financial Services Group Inc. Acquires 2,032 Shares of Genuine Parts Company $GPC

PNC Financial Services Group Inc. grew its holdings in Genuine Parts Company (NYSE:GPC) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,484 shares of the specialty retailer’s stock after purchasing an additional 2,032 shares during the period. PNC Financial Services Group Inc. owned about 0.07% of Genuine Parts worth $11,341,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GPC. Golden State Wealth Management LLC boosted 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 valued at $33,000 after buying an additional 265 shares during the last quarter. Concord Wealth Partners lifted its stake in Genuine Parts by 148.7% during the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 177 shares during the period. Hantz Financial Services Inc. lifted 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 during the period. 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 valued at $42,000 after acquiring an additional 114 shares during the last quarter. Finally, Quaker Wealth Management LLC grew its stake in shares of Genuine Parts by 11,533.3% in the second quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 346 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.3%

NYSE:GPC opened at $127.30 on Friday. Genuine Parts Company has a one year low of $104.01 and a one year high of $143.48. The business has a fifty day moving average price of $133.68 and a 200-day moving average price of $129.91. The firm has a market capitalization of $17.71 billion, a price-to-earnings ratio of 21.91 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 (NYSE:GPC) last released its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter last year, the firm posted $1.88 earnings per share. Genuine Parts’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. Sell-side analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Insiders Place Their Bets

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 shares were 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 directly owned 26,112 shares in the company, valued at $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Truist Financial boosted their target price on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Loop Capital raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and upped their price objective for the company from $130.00 to $142.00 in a research report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

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.