OLD National Bancorp IN Buys 261 Shares of Genuine Parts (NYSE:GPC)

OLD National Bancorp IN raised its holdings in Genuine Parts (NYSE:GPC) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,413 shares of the specialty retailer’s stock after acquiring an additional 261 shares during the period. OLD National Bancorp IN’s holdings in Genuine Parts were worth $1,025,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Norges Bank bought a new position in Genuine Parts in the fourth quarter valued at about $215,643,000. Stifel Financial Corp grew its position in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares during the last quarter. DAVENPORT & Co LLC grew its position in Genuine Parts by 3,029.9% in the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after acquiring an additional 368,470 shares during the last quarter. Morningstar Investment Services LLC grew its position in Genuine Parts by 161.2% in the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after acquiring an additional 357,091 shares during the last quarter. Finally, Natixis grew its position in Genuine Parts by 768.4% in the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after acquiring an additional 279,930 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts 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 transaction, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by insiders.

Genuine Parts Trading Down 1.0 %

Shares of Genuine Parts stock traded down $1.33 during midday trading on Friday, reaching $137.16. The company had a trading volume of 513,604 shares, compared to its average volume of 1,026,692. The stock has a fifty day moving average price of $139.48 and a 200 day moving average price of $146.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The firm has a market cap of $19.11 billion, a PE ratio of 15.29 and a beta of 0.92. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week 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 company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 earnings per share. On average, equities analysts anticipate that Genuine Parts will post 9.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on GPC shares. Truist Financial decreased 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. Evercore ISI reduced their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group reduced their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Wedbush reduced their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Jefferies Financial Group boosted their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $161.14.

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.