Agate Pass Investment Management LLC Sells 97 Shares of Genuine Parts (NYSE:GPC)

Agate Pass Investment Management LLC reduced its position in Genuine Parts (NYSE:GPC) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,403 shares of the specialty retailer’s stock after selling 97 shares during the period. Genuine Parts accounts for about 1.3% of Agate Pass Investment Management LLC’s portfolio, making the stock its 25th largest position. Agate Pass Investment Management LLC’s holdings in Genuine Parts were worth $2,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. grew its holdings in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the last quarter. WD Rutherford LLC purchased a new stake in Genuine Parts in the first quarter valued at about $26,000. Union Savings Bank boosted its holdings in Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Thompson Investment Management Inc. purchased a new stake in shares of Genuine Parts during the first quarter worth about $35,000. Finally, Stephens Consulting LLC increased its holdings in shares of Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC traded up $1.22 during trading hours on Tuesday, reaching $136.85. The company had a trading volume of 463,521 shares, compared to its average volume of 1,021,961. 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 $19.06 billion, a PE ratio of 15.26 and a beta of 0.92. The business’s 50 day moving average price is $139.15 and its 200-day moving average price is $146.39. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results 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 for the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $2.44 earnings per share. Research analysts forecast that Genuine Parts will post 9.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GPC. Wedbush lowered their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group reduced their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group boosted their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $161.14.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the sale, 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. Corporate insiders own 0.37% of the company’s stock.

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.