Parallel Advisors LLC Increases Position in Genuine Parts Company $GPC

Parallel Advisors LLC lifted its position in shares of Genuine Parts Company (NYSE:GPC) by 47.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 941 shares of the specialty retailer’s stock after buying an additional 303 shares during the period. Parallel Advisors LLC’s holdings in Genuine Parts were worth $114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rossby Financial LCC purchased a new position in shares of Genuine Parts during the first quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new position in Genuine Parts during the first quarter worth approximately $27,000. North Capital Inc. purchased a new position in Genuine Parts during the first quarter worth approximately $28,000. Investors Research Corp raised its stake in Genuine Parts by 75.3% during the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 125 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 318 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC stock opened at $138.40 on Wednesday. The firm has a market cap of $19.25 billion, a P/E ratio of 23.82 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.29. The firm has a fifty day moving average of $135.61 and a two-hundred day moving average of $126.00.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same period in the previous year, the business posted $2.44 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. Genuine Parts’s payout ratio is 70.91%.

Analyst Ratings Changes

A number of research firms have weighed in on GPC. Truist Financial increased their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. UBS Group increased their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Loop Capital increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI raised their target price on shares of Genuine Parts from $145.00 to $148.00 and gave the company an “outperform” rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.86.

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.