Agate Pass Investment Management LLC Reduces Stock Holdings in Genuine Parts Company $GPC

Agate Pass Investment Management LLC decreased its position in Genuine Parts Company (NYSE:GPC) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,188 shares of the specialty retailer’s stock after selling 275 shares during the period. Agate Pass Investment Management LLC’s holdings in Genuine Parts were worth $1,842,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in Genuine Parts by 276.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock valued at $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 buying an additional 119,653 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 buying an additional 498,469 shares during the period. Dimensional Fund Advisors LP boosted its holdings 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 buying an additional 79,253 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 buying an additional 48,139 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC opened at $130.34 on Friday. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The stock has a market capitalization of $18.13 billion, a PE ratio of 22.43 and a beta of 0.77. The company’s 50 day simple moving average is $137.52 and its two-hundred day simple moving average is $127.29.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.10 billion. During the same period in the prior year, the company posted $2.44 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were given a dividend of $1.03 per share. The ex-dividend date was Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.2%. Genuine Parts’s dividend payout ratio (DPR) is 70.91%.

Wall Street Analyst Weigh In

Several research analysts recently commented on GPC shares. UBS Group raised their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday. Loop Capital raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Truist Financial raised their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Evercore ISI raised their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $138.86.

Insider Buying and Selling at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the firm’s stock in a transaction 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 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 filing with the SEC, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

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.