Genuine Parts Company $GPC Shares Sold by Private Wealth Asset Management LLC

Private Wealth Asset Management LLC lowered its position in shares of Genuine Parts Company (NYSE:GPC) by 57.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 531 shares of the specialty retailer’s stock after selling 708 shares during the quarter. Private Wealth Asset Management LLC’s holdings in Genuine Parts were worth $64,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Investing LLC raised its stake in Genuine Parts by 11.9% in the 1st quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock valued at $1,995,000 after purchasing an additional 1,777 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Genuine Parts during the first quarter worth $3,344,000. Revisor Wealth Management LLC raised its position in shares of Genuine Parts by 75.2% in the second quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock valued at $853,000 after buying an additional 2,910 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Genuine Parts by 11.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,430 shares of the specialty retailer’s stock worth $2,657,000 after buying an additional 2,290 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Genuine Parts by 276.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after acquiring an additional 2,461,497 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 0.0%

Shares of NYSE:GPC opened at $133.67 on Thursday. The business has a 50-day moving average price of $137.54 and a 200 day moving average price of $127.57. 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 capitalization of $18.59 billion, a price-to-earnings ratio of 23.01 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 earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Sell-side analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, September 5th. Genuine Parts’s dividend payout ratio (DPR) is 70.91%.

Analysts Set New Price Targets

GPC has been the subject of a number of recent research reports. Evercore ISI increased their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. UBS Group increased their price target on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Loop Capital lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $138.86.

Insider Transactions at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the sale, the executive vice president owned 26,112 shares of the company’s stock, valued at $3,606,589.44. The trade was a 16.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is currently owned by insiders.

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.