Investor 1832 Asset Management L.P. Reduces Stake in Genuine Parts (NYSE:GPC) by 25.4%

Are you looking to invest in Genuine Parts (NYSE:GPC)? Well, you’re not alone. 1832 Asset Management L.P. recently lessened its stake in the company, but several other large investors have made changes to their positions as well. Axxcess Wealth Management LLC, Balentine LLC, Checchi Capital Advisers LLC, Grimes & Company Inc., and Fiera Capital Corp have all boosted their stakes in Genuine Parts, showing confidence in the company’s future growth potential.

In terms of insider transactions, Director Wendy B. Needham has been actively selling shares of Genuine Parts, with the most recent transaction totaling over $450,000. This could indicate a lack of confidence in the company’s performance, so it’s important to keep an eye on future developments.

On the analyst front, several analysts have weighed in on Genuine Parts, with varying opinions on the stock. StockNews.com upgraded the company to a “buy” rating, while Evercore ISI decreased their target price. Overall, the stock currently has a consensus rating of “Hold” with an average target price of $171.33.

In terms of price performance, Genuine Parts has been relatively stable, with a 50-day moving average of $151.66. The company recently announced its quarterly earnings, beating analysts’ estimates and posting a return on equity of 30.92%. The company also announced a quarterly dividend, further solidifying its position as a reliable investment option.

Overall, Genuine Parts Company distributes automotive replacement parts and industrial parts and materials, operating in two segments. With a strong track record and consistent performance, Genuine Parts could be a solid addition to your investment portfolio.

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