Massmutual Trust Co. FSB ADV Has $5.78 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Massmutual Trust Co. FSB ADV decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,748 shares of the specialty retailer’s stock after selling 422 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Genuine Parts were worth $5,775,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GPC. DAVENPORT & Co LLC boosted its position in Genuine Parts by 99.4% during the fourth quarter. DAVENPORT & Co LLC now owns 12,161 shares of the specialty retailer’s stock worth $1,684,000 after purchasing an additional 6,062 shares during the period. Trust Point Inc. purchased a new position in shares of Genuine Parts in the fourth quarter worth $377,000. Ballentine Partners LLC raised its holdings in Genuine Parts by 40.7% during the 4th quarter. Ballentine Partners LLC now owns 8,401 shares of the specialty retailer’s stock valued at $1,164,000 after buying an additional 2,430 shares during the last quarter. Advisory Alpha LLC raised its holdings in Genuine Parts by 7.9% during the 4th quarter. Advisory Alpha LLC now owns 2,116 shares of the specialty retailer’s stock valued at $293,000 after buying an additional 155 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Genuine Parts by 0.7% in the 4th quarter. Arizona State Retirement System now owns 38,598 shares of the specialty retailer’s stock worth $5,346,000 after purchasing an additional 262 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction that occurred on 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 $1,967,677.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of several recent research reports. Wedbush lowered their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. UBS Group cut their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Truist Financial cut their price objective 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. Finally, Jefferies Financial Group raised their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Genuine Parts has an average rating of “Hold” and an average price target of $161.14.

Genuine Parts Trading Down 2.9 %

NYSE:GPC traded down $4.08 during trading hours on Monday, hitting $138.44. The company had a trading volume of 1,062,150 shares, compared to its average volume of 1,034,954. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $139.87 and a 200 day moving average of $146.61. The company has a market cap of $19.29 billion, a P/E ratio of 15.42 and a beta of 0.92. 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 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 analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 EPS. Sell-side analysts expect that Genuine Parts will post 9.36 earnings per share for the current year.

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.