IFP Advisors Inc Acquires 627 Shares of Genuine Parts Company $GPC

IFP Advisors Inc lifted its holdings in shares of Genuine Parts Company (NYSE:GPC) by 20.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,762 shares of the specialty retailer’s stock after acquiring an additional 627 shares during the quarter. IFP Advisors Inc’s holdings in Genuine Parts were worth $457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Diversified Trust Co raised its holdings in shares of Genuine Parts by 1.8% during the second quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock valued at $562,000 after acquiring an additional 83 shares in the last quarter. Brown Lisle Cummings Inc. raised its holdings in shares of Genuine Parts by 5.7% during the second quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer’s stock valued at $187,000 after acquiring an additional 83 shares in the last quarter. Oak Asset Management LLC raised its holdings in shares of Genuine Parts by 0.6% during the second quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer’s stock valued at $1,633,000 after acquiring an additional 85 shares in the last quarter. Horizon Investments LLC grew its stake in Genuine Parts by 4.8% in the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer’s stock worth $238,000 after purchasing an additional 91 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in Genuine Parts by 2.8% in the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer’s stock worth $402,000 after purchasing an additional 93 shares during the period. Institutional investors own 78.83% of the company’s stock.

Insider Activity

In other news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by insiders.

Genuine Parts Trading Up 1.4%

Shares of NYSE:GPC opened at $133.58 on Wednesday. The company has a market cap of $18.58 billion, a P/E ratio of 22.99 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.29. The stock’s fifty day moving average price is $137.54 and its 200-day moving average price is $127.53.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period 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 earnings per share for the current year.

Genuine Parts Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Truist Financial upped their price target on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. 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. UBS Group upped their price target on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Evercore ISI upped their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average target price of $138.86.

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.