Probity Advisors Inc. Acquires 426 Shares of Genuine Parts Company $GPC

Probity Advisors Inc. grew its holdings in Genuine Parts Company (NYSE:GPC) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,042 shares of the specialty retailer’s stock after acquiring an additional 426 shares during the period. Probity Advisors Inc.’s holdings in Genuine Parts were worth $733,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GPC. Avidian Wealth Enterprises LLC increased its stake in shares of Genuine Parts by 3.3% in the second quarter. Avidian Wealth Enterprises LLC now owns 2,577 shares of the specialty retailer’s stock worth $313,000 after purchasing an additional 82 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Genuine Parts by 0.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 44,343 shares of the specialty retailer’s stock worth $5,359,000 after purchasing an additional 182 shares in the last quarter. LMG Wealth Partners LLC increased its stake in shares of Genuine Parts by 33.8% in the second quarter. LMG Wealth Partners LLC now owns 9,198 shares of the specialty retailer’s stock worth $1,116,000 after purchasing an additional 2,323 shares in the last quarter. TrueMark Investments LLC increased its stake in shares of Genuine Parts by 8.7% in the second quarter. TrueMark Investments LLC now owns 26,147 shares of the specialty retailer’s stock worth $3,172,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Kanawha Capital Management LLC increased its stake in shares of Genuine Parts by 67.0% in the second quarter. Kanawha Capital Management LLC now owns 35,854 shares of the specialty retailer’s stock worth $4,349,000 after purchasing an additional 14,379 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Insider Activity at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction on Friday, September 26th. The shares were 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 of the company’s stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GPC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research note 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. 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 research note on Thursday, July 24th. Truist Financial raised their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI raised their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $138.86.

Genuine Parts Stock Performance

GPC opened at $131.71 on Tuesday. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 22.67 and a beta of 0.77. The company has a fifty day moving average of $137.50 and a 200 day moving average of $128.00. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $144.21. 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 issued its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same period last year, the company posted $2.44 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, September 5th. Genuine Parts’s dividend payout ratio (DPR) 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.