Genuine Parts (NYSE:GPC) Shares Acquired by Comerica Bank

Comerica Bank increased its position in shares of Genuine Parts (NYSE:GPC) by 19.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,657 shares of the specialty retailer’s stock after purchasing an additional 18,657 shares during the period. Comerica Bank’s holdings in Genuine Parts were worth $17,609,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Coppell Advisory Solutions Corp. purchased a new stake in Genuine Parts in the first quarter valued at $375,000. Tidal Investments LLC raised its holdings in shares of Genuine Parts by 63.8% in the first quarter. Tidal Investments LLC now owns 11,866 shares of the specialty retailer’s stock valued at $1,838,000 after buying an additional 4,620 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Genuine Parts by 1.0% in the first quarter. California State Teachers Retirement System now owns 229,176 shares of the specialty retailer’s stock valued at $35,506,000 after buying an additional 2,328 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Genuine Parts by 70.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 12,537 shares of the specialty retailer’s stock valued at $1,822,000 after buying an additional 5,198 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Genuine Parts by 0.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 231,159 shares of the specialty retailer’s stock valued at $35,813,000 after buying an additional 2,057 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now 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 accessible through the SEC website. 0.37% of the stock is currently owned by insiders.

Genuine Parts Trading Down 1.7 %

Shares of GPC traded down $2.38 on Friday, hitting $141.10. 157,245 shares of the stock traded hands, compared to its average volume of 1,028,522. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $19.66 billion, a P/E ratio of 15.99 and a beta of 0.92. The stock’s 50 day moving average is $139.93 and its two-hundred day moving average is $146.48. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Truist Financial reduced their target price on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Jefferies Financial Group upped their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday. Evercore ISI lowered their price target 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. Finally, Wedbush lowered their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.