Summit Investment Advisors Inc. Reduces Holdings in Genuine Parts Company $GPC

Summit Investment Advisors Inc. lowered its position in shares of Genuine Parts Company (NYSE:GPC) by 26.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,956 shares of the specialty retailer’s stock after selling 2,560 shares during the period. Summit Investment Advisors Inc.’s holdings in Genuine Parts were worth $829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC increased its stake in Genuine Parts by 351.9% during the second quarter. AE Wealth Management LLC now owns 143,457 shares of the specialty retailer’s stock worth $17,403,000 after acquiring an additional 111,715 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Genuine Parts by 43.3% during the 2nd quarter. Metis Global Partners LLC now owns 7,984 shares of the specialty retailer’s stock worth $969,000 after purchasing an additional 2,414 shares during the period. Penserra Capital Management LLC increased its position in shares of Genuine Parts by 12.2% during the 2nd quarter. Penserra Capital Management LLC now owns 747 shares of the specialty retailer’s stock worth $90,000 after purchasing an additional 81 shares during the last quarter. Marco Investment Management LLC raised its holdings in Genuine Parts by 2.5% in the 2nd quarter. Marco Investment Management LLC now owns 7,365 shares of the specialty retailer’s stock valued at $893,000 after buying an additional 178 shares during the period. Finally, Savant Capital LLC raised its holdings in Genuine Parts by 3.5% in the 2nd quarter. Savant Capital LLC now owns 30,960 shares of the specialty retailer’s stock valued at $3,756,000 after buying an additional 1,033 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Genuine Parts stock opened at $126.98 on Thursday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $143.48. The firm has a market cap of $17.66 billion, a PE ratio of 21.86 and a beta of 0.75. The company’s 50 day moving average is $134.19 and its two-hundred day moving average is $129.78.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, research analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Insider Transactions at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the sale, the executive vice president owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GPC has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Loop Capital increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. UBS Group boosted their target price on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, Evercore ISI raised their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Genuine Parts currently has a consensus rating of “Moderate Buy” and an average price target of $143.33.

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.