Eastern Bank Sells 1,734 Shares of Genuine Parts Company $GPC

Eastern Bank lowered its position in Genuine Parts Company (NYSE:GPC) by 18.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,564 shares of the specialty retailer’s stock after selling 1,734 shares during the quarter. Eastern Bank’s holdings in Genuine Parts were worth $918,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Diversified Trust Co boosted its holdings in Genuine Parts by 1.8% in the 2nd quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock worth $562,000 after buying an additional 83 shares during the period. Brown Lisle Cummings Inc. lifted its stake in Genuine Parts by 5.7% in 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 lifted its stake in Genuine Parts by 0.6% in 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. Horizon Investments LLC lifted its stake in Genuine Parts by 4.8% in 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. Finally, Pinnacle Associates Ltd. lifted its stake in Genuine Parts by 2.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer’s stock worth $402,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.9%

Shares of NYSE GPC opened at $130.34 on Friday. The firm’s 50-day moving average price is $137.52 and its 200-day moving average price is $127.35. 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 stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of 22.43 and a beta of 0.77. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period in the prior year, the company posted $2.44 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, equities research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, September 5th. Genuine Parts’s dividend payout ratio is 70.91%.

Insiders Place Their Bets

In related news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $138.12, for a total value of $732,450.36. Following the sale, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Truist Financial boosted their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Evercore ISI boosted their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Loop Capital boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. UBS Group upped their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday. One investment 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 given a Sell rating to the company. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $138.86.

Genuine Parts Company 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.