OLD National Bancorp IN Has $463,000 Position in Genuine Parts Company $GPC

OLD National Bancorp IN reduced its stake in Genuine Parts Company (NYSE:GPCFree Report) by 10.0% during the second quarter, HoldingsChannel reports. The firm owned 3,813 shares of the specialty retailer’s stock after selling 425 shares during the quarter. OLD National Bancorp IN’s holdings in Genuine Parts were worth $463,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Diversified Trust Co boosted its stake in shares of Genuine Parts by 1.8% in the 2nd 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 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 buying an additional 83 shares during the period. Oak Asset Management LLC boosted 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 buying an additional 85 shares during the period. Horizon Investments LLC boosted 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 buying an additional 91 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in Genuine Parts by 2.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer’s stock worth $402,000 after buying an additional 93 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

NYSE GPC opened at $135.97 on Wednesday. The company has a fifty day simple moving average of $137.39 and a 200 day simple moving average of $127.08. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The company has a market cap of $18.91 billion, a P/E ratio of 23.40 and a beta of 0.77.

Genuine Parts (NYSE:GPCGet Free Report) last posted its quarterly 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 business had revenue of $6.16 billion during 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%. Genuine Parts’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Sell-side analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 5th. Genuine Parts’s payout ratio is currently 70.91%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GPC shares. Evercore ISI lifted 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. JPMorgan Chase & Co. lifted their target price 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 lifted their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Loop Capital raised their price target 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. Finally, UBS Group raised their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $138.14.

Read Our Latest Stock Analysis on Genuine Parts

Insider Transactions at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts 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 transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. The trade was a 16.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by corporate insiders.

Genuine Parts Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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