Legal & General Group Plc Sells 66,201 Shares of Genuine Parts Company $GPC

Legal & General Group Plc cut its holdings in shares of Genuine Parts Company (NYSE:GPC) by 7.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 869,185 shares of the specialty retailer’s stock after selling 66,201 shares during the period. Legal & General Group Plc’s holdings in Genuine Parts were worth $105,441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC lifted its position in Genuine Parts by 12.2% in the 2nd quarter. Penserra Capital Management LLC now owns 747 shares of the specialty retailer’s stock valued at $90,000 after acquiring an additional 81 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings 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 valued at $313,000 after purchasing an additional 82 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Genuine Parts by 1.8% in the second quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock valued at $562,000 after purchasing an additional 83 shares in the last quarter. Brown Lisle Cummings Inc. boosted its position in shares of Genuine Parts by 5.7% during 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 during the last quarter. Finally, Oak Asset Management LLC grew its holdings in Genuine Parts by 0.6% during the second quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer’s stock worth $1,633,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $126.61 on Tuesday. The firm has a market capitalization of $17.61 billion, a PE ratio of 21.79 and a beta of 0.75. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $132.01 and a two-hundred day moving average price of $130.36. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $143.48.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results 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 business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities analysts forecast 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 will be paid on Monday, January 5th. Shareholders of record on Friday, December 5th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, December 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.3%. Genuine Parts’s dividend payout ratio is currently 70.91%.

Insider Activity

In other news, EVP Naveen Krishna sold 5,303 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Truist Financial boosted their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Evercore ISI increased their price objective 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. Finally, The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $130.00 to $142.00 in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.00.

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.