2,399 Shares in Genuine Parts Company $GPC Bought by Divergent Planning LLC

Divergent Planning LLC bought a new position in shares of Genuine Parts Company (NYSE:GPC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,399 shares of the specialty retailer’s stock, valued at approximately $291,000.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Truist Financial increased their price objective on Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Evercore ISI upped their price objective 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Finally, UBS Group upped their price target on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $138.86.

Insider Transactions at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 26,112 shares in the company, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC stock opened at $131.71 on Tuesday. The company’s 50-day moving average is $137.50 and its 200 day moving average is $128.00. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.21. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The company has a market capitalization of $18.32 billion, a price-to-earnings ratio of 22.67 and a beta of 0.77.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating the consensus estimate 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 return on equity of 22.41% and a net margin of 3.40%.Genuine Parts’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $2.44 earnings per share. Sell-side analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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

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.