Genuine Parts Company $GPC Position Decreased by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its position in shares of Genuine Parts Company (NYSE:GPC) by 16.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,411 shares of the specialty retailer’s stock after selling 278 shares during the quarter. TD Private Client Wealth LLC’s holdings in Genuine Parts were worth $171,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GPC. Goldman Sachs Group Inc. lifted its position in shares of Genuine Parts by 276.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after purchasing an additional 2,461,497 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Genuine Parts by 4.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer’s stock worth $358,387,000 after buying an additional 119,653 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Genuine Parts by 22.1% in the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock worth $327,974,000 after buying an additional 498,469 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Genuine Parts by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer’s stock worth $211,816,000 after buying an additional 79,253 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Genuine Parts by 3.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,427,507 shares of the specialty retailer’s stock worth $170,073,000 after buying an additional 48,139 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Up 1.1%

Shares of Genuine Parts stock opened at $137.80 on Monday. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. The stock has a market cap of $19.17 billion, a P/E ratio of 23.72 and a beta of 0.75. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $136.48 and its 200-day moving average is $126.31.

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

Genuine Parts Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on GPC. JPMorgan Chase & Co. increased their price target on Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Loop Capital raised their price objective 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. Truist Financial raised their price objective 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. Evercore ISI raised their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 26th. Finally, UBS Group raised their target price on Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Genuine Parts presently has an average rating of “Moderate Buy” and an average 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.