Genuine Parts Company (NYSE:GPC) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Genuine Parts Company by 3.3%, owning 203,301 shares worth $24.22 million after purchasing an additional 6,414 shares.
• Genuine Parts reported $2.10 earnings per share for its last quarter, surpassing the consensus estimate of $2.08, with a revenue of $6.16 billion.
• Analysts have set new price targets for Genuine Parts, with Truist Financial raising its target from $137.00 to $143.00, while JPMorgan Chase adjusted its target from $134.00 to $145.00.

LPL Financial LLC grew its position in Genuine Parts Company (NYSE:GPC - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,301 shares of the specialty retailer's stock after buying an additional 6,414 shares during the quarter. LPL Financial LLC owned 0.15% of Genuine Parts worth $24,221,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Pinnacle Associates Ltd. lifted its position in shares of Genuine Parts by 2.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock valued at $402,000 after acquiring an additional 93 shares during the period. Strategic Wealth Partners Ltd. lifted its holdings in shares of Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after buying an additional 98 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of Genuine Parts by 0.5% in the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock worth $2,486,000 after buying an additional 98 shares in the last quarter. Veracity Capital LLC lifted its holdings in shares of Genuine Parts by 4.9% in the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock worth $256,000 after buying an additional 100 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC lifted its holdings in shares of Genuine Parts by 4.7% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock worth $309,000 after buying an additional 118 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Loop Capital lifted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. UBS Group lifted their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Evercore ISI decreased their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $135.29.

Genuine Parts Trading Up 1.3%

GPC traded up $1.65 during trading on Tuesday, reaching $132.91. The company had a trading volume of 1,277,651 shares, compared to its average volume of 1,371,609. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The business has a 50 day simple moving average of $125.46 and a 200-day simple moving average of $121.76. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.49. The stock has a market cap of $18.49 billion, a P/E ratio of 22.88 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The firm 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 company's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 earnings per share. On average, equities analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

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.