Aegis Wealth Management LLC Buys 2,397 Shares of Genuine Parts Company (NYSE:GPC)

Aegis Wealth Management LLC boosted its position in Genuine Parts Company (NYSE:GPC - Free Report) by 81.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,332 shares of the specialty retailer's stock after acquiring an additional 2,397 shares during the period. Aegis Wealth Management LLC's holdings in Genuine Parts were worth $635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GPC. Rossby Financial LCC bought a new stake in shares of Genuine Parts during the first quarter valued at about $25,000. Olde Wealth Management LLC purchased a new position in shares of Genuine Parts during the first quarter worth about $27,000. North Capital Inc. purchased a new position in shares of Genuine Parts during the first quarter worth about $28,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Genuine Parts during the fourth quarter worth about $33,000. Finally, Investors Research Corp grew its holdings in shares of Genuine Parts by 75.3% during the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 125 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Down 2.5%

GPC stock traded down $3.25 during midday trading on Thursday, hitting $128.78. The company had a trading volume of 2,190,627 shares, compared to its average volume of 1,186,732. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $149.22. The stock's 50 day moving average price is $125.28 and its 200 day moving average price is $121.46. The stock has a market cap of $17.91 billion, a price-to-earnings ratio of 22.16 and a beta of 0.74.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 earnings per share. As a group, equities research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Evercore ISI cut their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Truist Financial upped their target price on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Loop Capital upped their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $135.29.

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.