Genuine Parts Company $GPC Shares Purchased by 49 Wealth Management LLC

49 Wealth Management LLC grew its stake in Genuine Parts Company (NYSE:GPC) by 22.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,703 shares of the specialty retailer’s stock after buying an additional 504 shares during the period. 49 Wealth Management LLC’s holdings in Genuine Parts were worth $328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vise Technologies Inc. acquired a new stake in shares of Genuine Parts during the second quarter worth about $897,000. Allworth Financial LP grew its holdings in Genuine Parts by 21.8% during the second quarter. Allworth Financial LP now owns 4,434 shares of the specialty retailer’s stock worth $538,000 after acquiring an additional 793 shares during the period. Illinois Municipal Retirement Fund increased its holdings in Genuine Parts by 10.7% in the second quarter. Illinois Municipal Retirement Fund now owns 74,217 shares of the specialty retailer’s stock valued at $9,003,000 after buying an additional 7,191 shares in the last quarter. Midwest Trust Co acquired a new stake in Genuine Parts in the second quarter valued at approximately $2,572,000. Finally, Sound View Wealth Advisors Group LLC grew its holdings in Genuine Parts by 3.4% in the second quarter. Sound View Wealth Advisors Group LLC now owns 3,308 shares of the specialty retailer’s stock valued at $401,000 after purchasing an additional 109 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. The trade was a 16.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Genuine Parts Stock Performance

NYSE:GPC opened at $126.73 on Monday. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The company has a 50 day moving average price of $134.84 and a 200 day moving average price of $129.67. The stock has a market capitalization of $17.63 billion, a P/E ratio of 21.81 and a beta of 0.75.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same period in the previous year, the business posted $1.88 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared 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 was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 3.3%. Genuine Parts’s dividend payout ratio is currently 70.91%.

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.