Genuine Parts Company $GPC Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in Genuine Parts Company (NYSE:GPC) by 10.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,455,155 shares of the specialty retailer’s stock after selling 297,690 shares during the period. JPMorgan Chase & Co.’s holdings in Genuine Parts were worth $297,836,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Allianz Asset Management GmbH boosted its stake in Genuine Parts by 18.2% in the first quarter. Allianz Asset Management GmbH now owns 9,829 shares of the specialty retailer’s stock valued at $1,171,000 after acquiring an additional 1,513 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Genuine Parts by 2.8% during the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer’s stock worth $402,000 after purchasing an additional 93 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Genuine Parts by 0.3% in the 1st quarter. Cetera Investment Advisers now owns 134,251 shares of the specialty retailer’s stock valued at $15,995,000 after purchasing an additional 341 shares during the last quarter. Assetmark Inc. boosted its position in shares of Genuine Parts by 40.0% in the 1st quarter. Assetmark Inc. now owns 23,252 shares of the specialty retailer’s stock valued at $2,770,000 after purchasing an additional 6,644 shares during the period. Finally, Empirical Finance LLC boosted its position in shares of Genuine Parts by 4.3% in the 1st quarter. Empirical Finance LLC now owns 5,049 shares of the specialty retailer’s stock valued at $602,000 after purchasing an additional 208 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $126.61 on Tuesday. The stock has a fifty day moving average price of $132.01 and a 200 day moving average price of $130.36. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $143.48. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. The company has a market cap of $17.61 billion, a PE ratio of 21.79 and a beta of 0.75.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.04). The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Sell-side analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 5th. Genuine Parts’s dividend payout ratio is currently 70.91%.

Insider Buying and Selling

In related news, EVP Naveen Krishna sold 5,303 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 26,112 shares in the company, valued at $3,606,589.44. This trade represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Evercore ISI lifted their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Truist Financial upped their price target 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. UBS Group increased their price target 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. 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 issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $148.00.

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.