Blair William & Co. IL Lowers Stock Position in Genuine Parts Company $GPC

Blair William & Co. IL cut its position in shares of Genuine Parts Company (NYSE:GPC) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,088 shares of the specialty retailer’s stock after selling 147 shares during the period. Blair William & Co. IL’s holdings in Genuine Parts were worth $981,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GPC. Goldman Sachs Group Inc. boosted its holdings in Genuine Parts by 276.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after buying an additional 2,461,497 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Genuine Parts by 377.3% during the second quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer’s stock valued at $113,233,000 after purchasing an additional 737,836 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Genuine Parts by 22.1% during the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock valued at $327,974,000 after purchasing an additional 498,469 shares in the last quarter. Nuveen LLC purchased a new position in Genuine Parts during the first quarter valued at $41,646,000. Finally, Pzena Investment Management LLC purchased a new position in Genuine Parts during the first quarter valued at $35,860,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the sale, the executive vice president owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This represents a 16.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by insiders.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $133.65 on Friday. The firm has a 50-day simple moving average of $137.54 and a 200-day simple moving average of $127.67. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 23.00 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29.

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

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, September 5th. Genuine Parts’s payout ratio is presently 70.91%.

Analyst Ratings Changes

Several equities analysts have issued reports on GPC shares. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Evercore ISI increased their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. Truist Financial increased their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, UBS Group increased their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $138.86.

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.