Edgestream Partners L.P. Sells 25,929 Shares of Genuine Parts Company $GPC

Edgestream Partners L.P. cut its holdings in Genuine Parts Company (NYSE:GPC) by 67.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,320 shares of the specialty retailer’s stock after selling 25,929 shares during the period. Edgestream Partners L.P.’s holdings in Genuine Parts were worth $1,495,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of GPC. Atria Wealth Solutions Inc. grew its position in shares of Genuine Parts by 30.8% during the 1st quarter. Atria Wealth Solutions Inc. now owns 13,841 shares of the specialty retailer’s stock worth $1,663,000 after purchasing an additional 3,259 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake 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 valued at $399,449,000 after buying an additional 2,461,497 shares during the period. Citizens Financial Group Inc. RI grew its position in Genuine Parts by 12.7% during the first quarter. Citizens Financial Group Inc. RI now owns 3,762 shares of the specialty retailer’s stock worth $452,000 after buying an additional 425 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in Genuine Parts during the 1st quarter worth $348,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Genuine Parts by 4.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer’s stock valued at $358,387,000 after acquiring an additional 119,653 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GPC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. UBS Group increased their price objective 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. Truist Financial boosted their target price on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and upped their price target for the stock from $130.00 to $142.00 in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Genuine Parts Trading Down 0.1%

GPC opened at $130.20 on Friday. The company has a market cap of $18.11 billion, a P/E ratio of 22.41 and a beta of 0.74. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average is $130.52 and its 200-day moving average is $130.62. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $143.48.

Genuine Parts (NYSE:GPC) last issued 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). The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. Genuine Parts’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 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 company also recently disclosed 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 dividend on an annualized basis and a yield of 3.2%. Genuine Parts’s payout ratio is currently 70.91%.

Insider Transactions at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction dated 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 trade represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is currently owned by insiders.

Genuine Parts Company 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.