Genuine Parts Company $GPC Shares Sold by Ethic Inc.

Ethic Inc. lowered its stake in shares of Genuine Parts Company (NYSE:GPC) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,087 shares of the specialty retailer’s stock after selling 428 shares during the quarter. Ethic Inc.’s holdings in Genuine Parts were worth $3,745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Avidian Wealth Enterprises LLC increased its stake in shares of Genuine Parts by 3.3% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 2,577 shares of the specialty retailer’s stock valued at $313,000 after acquiring an additional 82 shares during the last quarter. Diversified Trust Co increased its position in Genuine Parts by 1.8% during the 2nd quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock worth $562,000 after purchasing an additional 83 shares in the last quarter. Brown Lisle Cummings Inc. increased its position in Genuine Parts by 5.7% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer’s stock worth $187,000 after purchasing an additional 83 shares in the last quarter. Oak Asset Management LLC increased its position in Genuine Parts by 0.6% during the 2nd quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer’s stock worth $1,633,000 after purchasing an additional 85 shares in the last quarter. Finally, Horizon Investments LLC increased its position in Genuine Parts by 4.8% during the 1st quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer’s stock worth $238,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GPC. UBS Group increased their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. increased their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday. Loop Capital increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Evercore ISI increased their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.33.

Genuine Parts Stock Up 0.3%

Shares of NYSE:GPC opened at $133.30 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $143.48. The company has a 50 day moving average of $137.30 and a two-hundred day moving average of $128.23. The company has a market capitalization of $18.54 billion, a price-to-earnings ratio of 22.94 and a beta of 0.77.

Genuine Parts (NYSE:GPC) last issued 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). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the business earned $1.88 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, 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 announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, September 5th. Genuine Parts’s dividend payout ratio is 70.91%.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.