Genuine Parts Company $GPC Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lessened its stake in shares of Genuine Parts Company (NYSE:GPC) by 28.4% during the second quarter, Holdings Channel.com reports. The fund owned 2,195 shares of the specialty retailer’s stock after selling 872 shares during the period. Parsons Capital Management Inc. RI’s holdings in Genuine Parts were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new position in shares of Genuine Parts during the 1st quarter valued at $25,000. Olde Wealth Management LLC bought a new position in Genuine Parts during the first quarter valued at about $27,000. North Capital Inc. acquired a new position in Genuine Parts during the first quarter worth about $28,000. Golden State Wealth Management LLC raised its position in Genuine Parts by 7,950.0% in the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 318 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in Genuine Parts in the 1st quarter valued at about $45,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the transaction, the executive vice president owned 26,112 shares in the company, valued at $3,606,589.44. This represents a 16.88% decrease in their position. 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 company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research note on Saturday, September 27th. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Truist Financial upped their price target on Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Evercore ISI raised their price objective on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Loop Capital lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $138.14.

Genuine Parts Stock Down 0.4%

Shares of NYSE:GPC opened at $139.81 on Friday. The firm has a 50 day simple moving average of $137.23 and a 200 day simple moving average of $126.82. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The company has a market cap of $19.45 billion, a PE ratio of 24.06 and a beta of 0.77.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.02. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current 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 given a dividend of $1.03 per share. The ex-dividend date was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

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.