LMG Wealth Partners LLC Has $1.12 Million Holdings in Genuine Parts Company $GPC

LMG Wealth Partners LLC boosted its position in Genuine Parts Company (NYSE:GPC) by 33.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,198 shares of the specialty retailer’s stock after purchasing an additional 2,323 shares during the period. LMG Wealth Partners LLC’s holdings in Genuine Parts were worth $1,116,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in Genuine Parts by 276.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after purchasing an additional 2,461,497 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 worth $358,387,000 after purchasing an additional 119,653 shares in the last quarter. JPMorgan Chase & Co. grew its position in Genuine Parts by 22.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock worth $327,974,000 after purchasing an additional 498,469 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Genuine Parts by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer’s stock worth $211,816,000 after purchasing an additional 79,253 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Genuine Parts by 3.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,427,507 shares of the specialty retailer’s stock worth $170,073,000 after purchasing an additional 48,139 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Evercore ISI increased their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Loop Capital increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, UBS Group increased their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $138.86.

Genuine Parts Stock Down 0.4%

Genuine Parts stock opened at $133.25 on Monday. The company has a market capitalization of $18.53 billion, a P/E ratio of 22.93 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm has a 50 day moving average price of $137.54 and a 200-day moving average price of $127.89. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.29.

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

Genuine Parts Dividend Announcement

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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, September 5th. Genuine Parts’s dividend payout ratio is presently 70.91%.

Insider Activity at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the company’s 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 sale, the executive vice president directly owned 26,112 shares in the company, valued at approximately $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

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.