Advisors Asset Management Inc. Has $7.31 Million Holdings in Genuine Parts Company $GPC

Advisors Asset Management Inc. decreased its stake in Genuine Parts Company (NYSE:GPC) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,283 shares of the specialty retailer’s stock after selling 6,679 shares during the quarter. Advisors Asset Management Inc.’s holdings in Genuine Parts were worth $7,313,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC raised its holdings in Genuine Parts by 8,833.3% during the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after buying an additional 265 shares in the last quarter. Concord Wealth Partners lifted its holdings in shares of Genuine Parts by 148.7% during the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after buying an additional 177 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Genuine Parts by 7,825.0% during the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after buying an additional 313 shares during the last quarter. Quaker Wealth Management LLC increased its holdings in shares of Genuine Parts by 11,533.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 346 shares during the period. Finally, Cromwell Holdings LLC grew its holdings in shares of Genuine Parts by 49.1% during the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 114 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GPC has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Truist Financial raised their target price on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $130.00 to $142.00 in a research report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Finally, Evercore ISI upped their price target on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and an average target price of $148.00.

Insider Transactions at Genuine Parts

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

Genuine Parts Price Performance

Shares of GPC opened at $128.87 on Wednesday. The firm has a market capitalization of $17.93 billion, a PE ratio of 22.18 and a beta of 0.75. The company’s 50-day moving average is $131.80 and its 200-day moving average is $130.44. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the company posted $1.88 earnings per share. The business’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 analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 5th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, December 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.2%. Genuine Parts’s dividend payout ratio is presently 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.