Genuine Parts (NYSE:GPC) Position Lessened by Cambridge Trust Co.

Cambridge Trust Co. decreased its stake in Genuine Parts (NYSE:GPC) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,317 shares of the specialty retailer’s stock after selling 111 shares during the period. Cambridge Trust Co.’s holdings in Genuine Parts were worth $1,443,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Manchester Capital Management LLC lifted its holdings in shares of Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in shares of Genuine Parts by 8.5% in the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares during the last quarter. CHICAGO TRUST Co NA increased its position in Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after acquiring an additional 71 shares during the period. Checchi Capital Advisers LLC increased its position in Genuine Parts by 2.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock valued at $489,000 after acquiring an additional 76 shares during the period. Finally, Grimes & Company Inc. increased its position in Genuine Parts by 2.5% in the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after acquiring an additional 79 shares during the period. Institutional investors own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded down $0.96 during trading on Friday, reaching $142.52. The company’s stock had a trading volume of 1,062,186 shares, compared to its average volume of 1,304,695. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The business’s fifty day moving average price is $139.87 and its 200-day moving average price is $146.50. The firm has a market cap of $19.86 billion, a price-to-earnings ratio of 15.89 and a beta of 0.92. Genuine Parts has a one year low of $126.35 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 earnings per share. As a group, equities research analysts predict that Genuine Parts will post 9.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GPC. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday. The Goldman Sachs Group lowered their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Truist Financial lowered their target price on Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Wedbush lowered their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, UBS Group lowered their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts 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.