Johnson Investment Counsel Inc. Grows Stock Position in Genuine Parts Company $GPC

Johnson Investment Counsel Inc. increased its holdings in Genuine Parts Company (NYSE:GPC) by 0.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 259,377 shares of the specialty retailer’s stock after purchasing an additional 511 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Genuine Parts were worth $31,465,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rossby Financial LCC purchased a new stake in shares of Genuine Parts in the 1st quarter worth about $25,000. Olde Wealth Management LLC purchased a new stake in shares of Genuine Parts in the 1st quarter worth about $27,000. North Capital Inc. purchased a new stake in shares of Genuine Parts in the 1st quarter worth about $28,000. Golden State Wealth Management LLC boosted its position in shares of Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after buying an additional 318 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its position in shares of Genuine Parts by 49.1% in the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after buying an additional 114 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial boosted their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday. Evercore ISI boosted their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. UBS Group boosted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Loop Capital boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $138.86.

Genuine Parts Stock Down 0.9%

NYSE GPC opened at $130.34 on Friday. The stock has a market cap of $18.13 billion, a PE ratio of 22.43 and a beta of 0.77. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $144.29. The business has a 50 day moving average price of $137.52 and a two-hundred day moving average price of $127.35. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results 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. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.Genuine Parts’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, sell-side analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

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