Nixon Peabody Trust Co. Decreases Stock Holdings in Genuine Parts Company $GPC

Nixon Peabody Trust Co. reduced its holdings in shares of Genuine Parts Company (NYSE:GPC) by 21.4% during the second quarter, HoldingsChannel.com reports. The fund owned 2,750 shares of the specialty retailer’s stock after selling 750 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Genuine Parts were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC boosted its holdings in shares of Genuine Parts by 8,833.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock worth $33,000 after buying an additional 265 shares during the last quarter. Concord Wealth Partners grew its position in shares of 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. increased its stake in shares of Genuine Parts by 7,825.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 313 shares during the last quarter. Quaker Wealth Management LLC lifted its stake in Genuine Parts by 11,533.3% in the second quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 346 shares during the last quarter. Finally, Cromwell Holdings LLC grew its holdings in Genuine Parts by 49.1% during the second 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. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of several recent research reports. Truist Financial lifted 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. Loop Capital increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Evercore ISI boosted their price objective 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, UBS Group increased 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. One research 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, Genuine Parts currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

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 stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by insiders.

Genuine Parts Price Performance

GPC stock opened at $127.65 on Friday. The firm has a 50 day simple moving average of $133.92 and a two-hundred day simple moving average of $129.77. The stock has a market cap of $17.76 billion, a PE ratio of 21.97 and a beta of 0.75. Genuine Parts Company has a one year low of $104.01 and a one year high of $143.48. 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 announced its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter last year, the firm posted $1.88 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

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.