SummitTX Capital L.P. Buys 18,115 Shares of Genuine Parts Company $GPC

SummitTX Capital L.P. increased its stake in Genuine Parts Company (NYSE:GPC) by 72.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,070 shares of the specialty retailer’s stock after purchasing an additional 18,115 shares during the quarter. SummitTX Capital L.P.’s holdings in Genuine Parts were worth $4,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GPC. Norges Bank purchased a new stake in shares of Genuine Parts during the 4th quarter valued at $293,471,000. Baupost Group LLC MA purchased a new position in Genuine Parts in the third quarter worth $193,347,000. Northwestern Mutual Wealth Management Co. increased its stake in Genuine Parts by 7,774.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,234,984 shares of the specialty retailer’s stock valued at $151,854,000 after acquiring an additional 1,219,300 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Genuine Parts in the third quarter valued at $61,321,000. Finally, Jain Global LLC purchased a new stake in Genuine Parts during the fourth quarter valued at about $53,782,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 2.9%

GPC opened at $127.75 on Tuesday. Genuine Parts Company has a 12 month low of $90.78 and a 12 month high of $151.57. The company has a current ratio of 1.16, a quick ratio of 0.50 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $111.17 and its 200-day moving average price is $115.51. The company has a market cap of $17.61 billion, a P/E ratio of 511.00 and a beta of 0.63.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.07. Genuine Parts had a return on equity of 22.59% and a net margin of 0.13%.The company had revenue of $6.54 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same period in the prior year, the business posted $2.10 EPS. Genuine Parts’s quarterly revenue was up 6.0% compared to the same quarter last year. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. On average, equities analysts expect that Genuine Parts Company will post 7.72 EPS for the current year.

Insiders Place Their Bets

In other Genuine Parts news, insider James F. Howe sold 415 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total value of $43,296.95. Following the completion of the sale, the insider owned 25,589 shares in the company, valued at approximately $2,669,700.37. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. DA Davidson lifted their price target on Genuine Parts from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Evercore reissued an “outperform” rating on shares of Genuine Parts in a report on Wednesday, July 22nd. Truist Financial upped their target price on Genuine Parts from $124.00 to $126.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research report on Wednesday, June 24th. Finally, Zacks Research raised shares of Genuine Parts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.