Public Employees Retirement System of Ohio Sells 5,324 Shares of Genuine Parts (NYSE:GPC)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,952 shares of the specialty retailer’s stock after selling 5,324 shares during the period. Public Employees Retirement System of Ohio’s holdings in Genuine Parts were worth $8,514,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. WD Rutherford LLC bought a new stake in shares of Genuine Parts during the 1st quarter worth $26,000. Assetmark Inc. raised its stake in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the period. Union Savings Bank raised its stake in shares of Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the period. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts during the 1st quarter worth $35,000. Finally, Stephens Consulting LLC raised its stake in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GPC. Evercore ISI decreased their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Wedbush reduced their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Truist Financial reduced their target price on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $161.14.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the sale, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts Price Performance

Shares of GPC traded up $2.23 during trading hours on Tuesday, reaching $145.02. 43,638 shares of the company’s stock traded hands, compared to its average volume of 1,017,862. The stock has a market cap of $20.20 billion, a PE ratio of 15.92 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The firm’s 50 day simple moving average is $140.11 and its 200-day simple moving average is $146.44. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 EPS. Equities analysts expect that Genuine Parts will post 9.37 EPS for the current year.

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.