Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Genuine Parts Co. shares valued at $453,870 were sold by NEEDHAM WENDY B on May 21 ’24. At $151.29 per share, NEEDHAM WENDY B sold 3,000 shares. The insider’s holdings dropped to 13,006 shares worth approximately $1.51 million following the completion of this transaction.
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Also, NEEDHAM WENDY B sold 3,250 shares, netting a total of over 503,490 in proceeds. Following the sale of shares at $154.92 each, the insider now holds 14,397 shares.
As published in their initiating research note from UBS on October 12, 2023, Genuine Parts Co. [GPC] has been a Neutral and the price target has been revised to $160. Analysts at Northcoast started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of June 01, 2023, BofA Securities has increased its “Neutral” rating to a “Buy” for GPC. Earlier on May 02, 2023, Goldman upgraded its rating. Their new recommendation was “a Neutral” for GPC stock which previously was a “a Sell”.
Analyzing GPC Stock Performance
During the last five days, there has been a drop of approximately -18.80%. Over the course of the year, Genuine Parts Co. shares have dropped approximately -16.07%. Shares of the company reached a 52-week high of $164.45 on 04/18/24 and a 52-week low of $112.74 on 10/22/24. A 50-day SMA is recorded $138.10, while a 200-day SMA reached $144.01. Nevertheless, trading volume fell to 2.77 million shares from 6.72 million shares the previous day.
Support And Resistance Levels for Genuine Parts Co. (GPC)
According to the 24-hour chart, there is a support level at 114.09, which, if violated, would cause prices to drop to 111.95. In the upper region, resistance lies at 117.44. The next price resistance is at 118.65. RSI (Relative Strength Index) is 26.86 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.99, which suggests the price will decrease in the coming days. Percent R is at 88.91%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
