Atlantic Union Bankshares Corp Sells 427 Shares of Genuine Parts Company $GPC

Atlantic Union Bankshares Corp reduced its stake in Genuine Parts Company (NYSE:GPC) by 10.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,513 shares of the specialty retailer’s stock after selling 427 shares during the period. Atlantic Union Bankshares Corp’s holdings in Genuine Parts were worth $426,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GPC. Avidian Wealth Enterprises LLC boosted its position in Genuine Parts by 3.3% during the second quarter. Avidian Wealth Enterprises LLC now owns 2,577 shares of the specialty retailer’s stock valued at $313,000 after buying an additional 82 shares during the period. Diversified Trust Co lifted its stake in Genuine Parts by 1.8% during the 2nd quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock valued at $562,000 after acquiring an additional 83 shares during the period. Brown Lisle Cummings Inc. lifted its stake in shares of Genuine Parts by 5.7% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer’s stock worth $187,000 after purchasing an additional 83 shares during the period. Oak Asset Management LLC raised its stake in Genuine Parts by 0.6% during the 2nd quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer’s stock worth $1,633,000 after acquiring an additional 85 shares during the period. Finally, Horizon Investments LLC grew its holdings in Genuine Parts by 4.8% during the 1st quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer’s stock valued at $238,000 after buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In related news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the transaction, the executive vice president directly owned 26,112 shares in the company, valued at approximately $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC opened at $126.73 on Friday. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 21.81 and a beta of 0.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48. The firm has a 50-day simple moving average of $134.84 and a 200-day simple moving average of $129.58.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, equities research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.3%. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

Analyst Ratings Changes

A number of brokerages have recently commented on GPC. Loop Capital lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Truist Financial upped their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Finally, UBS Group increased their price target on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Genuine Parts Profile

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.