HORAN Wealth LLC Buys Shares of 31,081 Genuine Parts Company $GPC

HORAN Wealth LLC bought a new stake in shares of Genuine Parts Company (NYSE:GPC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 31,081 shares of the specialty retailer’s stock, valued at approximately $3,770,000. Genuine Parts makes up approximately 1.2% of HORAN Wealth LLC’s holdings, making the stock its 27th largest holding.

Several other institutional investors also recently bought and sold shares of GPC. Goldman Sachs Group Inc. raised its holdings 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 valued at $399,449,000 after buying an additional 2,461,497 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Genuine Parts by 377.3% in the second quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer’s stock worth $113,233,000 after purchasing an additional 737,836 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Genuine Parts by 22.1% in the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock worth $327,974,000 after purchasing an additional 498,469 shares during the period. Nuveen LLC bought a new position in shares of Genuine Parts in the first quarter worth about $41,646,000. Finally, Pzena Investment Management LLC bought a new position in shares of Genuine Parts in the first quarter worth about $35,860,000. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the company’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 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. UBS Group lifted their price objective on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Evercore ISI lifted their price objective on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Truist Financial lifted their price objective on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Genuine Parts Trading Up 1.4%

Shares of GPC opened at $124.37 on Thursday. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $143.48. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $17.30 billion, a price-to-earnings ratio of 21.41 and a beta of 0.75. The stock’s 50-day moving average price is $135.39 and its 200 day moving average price is $129.40.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, research analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, September 5th. Genuine Parts’s dividend payout ratio is currently 70.91%.

About Genuine Parts

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.