Genuine Parts Company’s recent filing unveils that its Director LOUDERMILK ROBERT C JR acquired Company’s shares for reported $0.3 million on Jun 02. In the deal valued at $151.75 per share,2,000 shares were bought. As a result of this transaction, LOUDERMILK ROBERT C JR now holds 33,162 shares worth roughly $ 5.14 million.
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Then, BREAUX RANDALL P bought 500 shares, generating $74,720 in total proceeds. Upon buying the shares at $149.44, the Group President, GPC N.A. now owns 20,523 shares.
Before that, Donahue Paul D bought 1,600 shares. Genuine Parts Company shares valued at $249,728 were divested by the Chairman and CEO at a price of $156.08 per share. As a result of the transaction, Donahue Paul D now holds 59,727 shares, worth roughly $9.26 million.
Northcoast initiated its Genuine Parts Company [GPC] rating to a Buy in a research note published on Friday, June 28, 2023; the price target was $195. PT values the company’s stock at a premium of 20.47 to its Friday closing price.
Price Performance Review of GPC
On Friday, Genuine Parts Company [NYSE:GPC] saw its stock jump 0.88% to $155.08. On the same session, the stock had its day’s lowest price of $153.73, but rose to a high of $155.10. Over the last five days, the stock has gained 1.33%. Genuine Parts Company shares have fallen nearly -10.62% since the year began. Nevertheless, the stocks have fallen -0.60% over the past one year. While a 52-week high of $187.73 was reached on 02/27/23, a 52-week low of $145.30 was recorded on 05/31/23. SMA at 50 days reached $159.34, while 200 days put it at $166.73. A total of 0.58 million shares were traded, compared to the trading of 1.0 million shares in the previous session.
Levels Of Support And Resistance For GPC Stock
The 24-hour chart illustrates a support level at 154.17, which if violated will result in even more drops to 153.27. On the upside, there is a resistance level at 155.54. A further resistance level may holdings at 156.01. The Relative Strength Index (RSI) on the 14-day chart is 47.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.54, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.14%. Stochastics %K at 42.79% indicates the stock is a holding.
How much short interest is there in Genuine Parts Company?
A steep rise in short interest was recorded in Genuine Parts Company stocks on Aug 14, 2023, dropping by -0.46 million shares to a total of 2.32 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.78 million shares. There was a decline of -19.83%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.90% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.32.
Genuine Parts Company [GPC] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 17,115,494 shares, or roughly 12.19% of the outstanding GPC shares. In other words, the investor’s shares have fallen by -62,286 from its previous 13-F filing of 17177780.0. Additionally, BlackRock Fund Advisors decreased -4.61% of its stake after which the total value it holdings stand at $1,175,026,837, while SSgA Funds Management, Inc. added 2.16% of its stake to hold $1.14 billion in the firm. Over the last quarter, Geode Capital Management LLC purchased 55,046 shares of Genuine Parts Company, while Wells Fargo Clearing Services LLC bought -45,258 shares. At present, Charles Schwab Investment Managem is holding 2,154,121 shares valued at $335.44 million. Managed Account Advisors LLC owned 2,031,663 shares of the company at the time of its most recent 13F filing, worth $316.37 million.
According to FactSet, Genuine Parts Company’s share price will average $176.73 in the next year, based on opinions of analysts polled by the firm. This is up nearly 14.49 percent from its previous closing price of $153.73. Analysts expect Genuine Parts Company stock to reach the higher price of $195.00, while the lowest price estimate is $160.00. However, 16 analysts have rated GPC stock as an Overweight in their predictions for 2023.