Janney Montgomery Scott LLC Has $35.70 Million Stake in Genuine Parts Company $GPC

Janney Montgomery Scott LLC lowered its position in Genuine Parts Company (NYSE:GPC) by 8.5% in the second quarter, HoldingsChannel.com reports. The fund owned 294,313 shares of the specialty retailer’s stock after selling 27,178 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Genuine Parts were worth $35,703,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Invesco LLC increased its holdings in Genuine Parts by 3.8% during the 2nd quarter. Invesco LLC now owns 19,150 shares of the specialty retailer’s stock valued at $2,323,000 after purchasing an additional 696 shares in the last quarter. Albion Financial Group UT grew its holdings in shares of Genuine Parts by 3.7% during the second quarter. Albion Financial Group UT now owns 20,757 shares of the specialty retailer’s stock worth $2,518,000 after purchasing an additional 749 shares during the last quarter. WD Rutherford LLC bought a new stake in shares of Genuine Parts during the second quarter worth $50,000. Brown Lisle Cummings Inc. increased its stake in shares of Genuine Parts by 5.7% in the second quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer’s stock valued at $187,000 after buying an additional 83 shares in the last quarter. Finally, Old Port Advisors raised its holdings in shares of Genuine Parts by 15.7% in the second quarter. Old Port Advisors now owns 14,930 shares of the specialty retailer’s stock valued at $1,811,000 after buying an additional 2,031 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

GPC opened at $138.58 on Wednesday. The company has a fifty day moving average price of $136.89 and a two-hundred day moving average price of $126.52. The firm has a market capitalization of $19.28 billion, a PE ratio of 23.85 and a beta of 0.75. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period last year, the company earned $2.44 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. Genuine Parts’s dividend payout ratio is 70.91%.

Analysts Set New Price Targets

GPC has been the topic of a number of research analyst reports. Loop Capital increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Truist Financial boosted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Evercore ISI increased their price objective on Genuine Parts from $145.00 to $148.00 and gave the company an “outperform” rating in a research report on Tuesday, August 26th. Finally, UBS Group lifted their target price on Genuine Parts from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.86.

Insider Buying and Selling at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction that occurred 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 owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by corporate 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.