Genuine Parts (NYSE:GPC) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 43.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,917 shares of the specialty retailer’s stock after buying an additional 584 shares during the quarter. GAMMA Investing LLC’s holdings in Genuine Parts were worth $265,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Transcend Capital Advisors LLC raised its holdings in shares of Genuine Parts by 1.4% in the 2nd quarter. Transcend Capital Advisors LLC now owns 9,144 shares of the specialty retailer’s stock valued at $1,265,000 after purchasing an additional 125 shares in the last quarter. Old Port Advisors raised its holdings in shares of Genuine Parts by 10.4% in the 1st quarter. Old Port Advisors now owns 12,342 shares of the specialty retailer’s stock valued at $1,912,000 after purchasing an additional 1,163 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $996,000. Soltis Investment Advisors LLC raised its holdings in shares of Genuine Parts by 5.4% in the 1st quarter. Soltis Investment Advisors LLC now owns 35,887 shares of the specialty retailer’s stock valued at $5,560,000 after purchasing an additional 1,835 shares in the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in shares of Genuine Parts by 4.4% in the 1st quarter. Cetera Advisor Networks LLC now owns 128,927 shares of the specialty retailer’s stock valued at $19,975,000 after purchasing an additional 5,491 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of NYSE:GPC traded down $4.17 during midday trading on Monday, hitting $138.35. The stock had a trading volume of 1,043,037 shares, compared to its average volume of 1,034,851. 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 company has a market capitalization of $19.27 billion, a PE ratio of 15.42 and a beta of 0.92. The stock has a 50 day moving average price of $139.87 and a two-hundred day moving average price of $146.61. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45.

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

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Evercore ISI dropped their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. UBS Group lowered their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $161.14.

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.