Entropy Technologies LP acquired a new stake in Genuine Parts Company (NYSE:GPC – Free Report) in the 1st quarter, Holdings Channel reports. The firm acquired 5,493 shares of the specialty retailer’s stock, valued at approximately $581,000.
A number of other institutional investors also recently modified their holdings of GPC. Strive Financial Group LLC bought a new position in Genuine Parts during the fourth quarter worth $25,000. WPG Advisers LLC grew its holdings in Genuine Parts by 213.0% in the fourth quarter. WPG Advisers LLC now owns 241 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 164 shares during the period. Motiv8 Investments LLC bought a new stake in Genuine Parts in the fourth quarter valued at $31,000. Lodestone Wealth Management LLC bought a new stake in Genuine Parts in the fourth quarter valued at $32,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Genuine Parts during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 78.83% of the company’s stock.
Genuine Parts Stock Performance
Shares of GPC stock opened at $130.22 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.50 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $112.62 and a two-hundred day simple moving average of $115.59. Genuine Parts Company has a 12 month low of $90.78 and a 12 month high of $151.57. The firm has a market capitalization of $17.95 billion, a PE ratio of 520.88 and a beta of 0.63.
Analysts Set New Price Targets
GPC has been the topic of a number of research analyst reports. Zacks Research raised shares of Genuine Parts from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Wednesday, June 24th. UBS Group reaffirmed a “neutral” rating and set a $122.00 price target on shares of Genuine Parts in a research note on Wednesday, July 22nd. Truist Financial increased their price target on Genuine Parts from $124.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Finally, Evercore reissued an “outperform” rating on shares of Genuine Parts in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and an average price target of $145.00.
Read Our Latest Research Report on Genuine Parts
Insider Buying and Selling at Genuine Parts
In related news, insider James F. Howe sold 415 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $104.33, for a total value of $43,296.95. Following the sale, the insider owned 25,589 shares in the company, valued at $2,669,700.37. This represents a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.13% of the stock is owned by corporate insiders.
Genuine Parts Company Profile
Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.
Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.
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