Apollon Wealth Management LLC Sells 716 Shares of Genuine Parts Company $GPC

Apollon Wealth Management LLC decreased its holdings in shares of Genuine Parts Company (NYSE:GPC) by 20.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,734 shares of the specialty retailer’s stock after selling 716 shares during the period. Apollon Wealth Management LLC’s holdings in Genuine Parts were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rossby Financial LCC bought a new position in shares of Genuine Parts in the first quarter worth about $25,000. Olde Wealth Management LLC purchased a new stake in Genuine Parts in the 1st quarter worth approximately $27,000. North Capital Inc. bought a new position in shares of Genuine Parts in the first quarter worth approximately $28,000. Golden State Wealth Management LLC boosted its position in shares of 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 purchasing an additional 318 shares during the period. Finally, Cromwell Holdings LLC boosted its position in shares of Genuine Parts by 49.1% in the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 114 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $133.25 on Friday. The stock has a 50 day moving average of $137.54 and a 200 day moving average of $127.77. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.29. The firm has a market cap of $18.53 billion, a PE ratio of 22.93 and a beta of 0.77. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. The business had revenue of $6.16 billion for 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%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, research analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, September 5th. Genuine Parts’s payout ratio is currently 70.91%.

Insider Activity 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 value of $732,450.36. Following the completion of the transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

GPC has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Evercore ISI raised their price target on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Truist Financial increased their target price on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. UBS Group increased their target price on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, Loop Capital upped their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average 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.