Marks Group Wealth Management Inc Reduces Stock Position in Genuine Parts Company $GPC

Marks Group Wealth Management Inc lowered its holdings in Genuine Parts Company (NYSE:GPC) by 11.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 13,190 shares of the specialty retailer’s stock after selling 1,768 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Genuine Parts were worth $1,600,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rossby Financial LCC purchased a new stake in shares of Genuine Parts in the 1st quarter valued at about $25,000. Olde Wealth Management LLC purchased a new stake in Genuine Parts in the first quarter valued at approximately $27,000. North Capital Inc. acquired a new stake in shares of Genuine Parts in the first quarter valued at approximately $28,000. Golden State Wealth Management LLC grew its position in shares of Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 318 shares during the last quarter. Finally, Cromwell Holdings LLC increased its holdings in shares of Genuine Parts by 49.1% in the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 114 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

NYSE GPC opened at $138.56 on Tuesday. The stock has a market capitalization of $19.27 billion, a price-to-earnings ratio of 23.85 and a beta of 0.77. The business’s 50 day moving average is $137.34 and its two-hundred day moving average is $127.02. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Research analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. Genuine Parts’s dividend payout ratio (DPR) is 70.91%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GPC shares. Truist Financial increased their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Evercore ISI increased their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. UBS Group boosted their price target on Genuine Parts from $125.00 to $135.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Loop Capital upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $138.14.

Insider Activity

In other 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% of the company’s stock.

About Genuine Parts

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.