Ieq Capital LLC Buys Shares of 11,028 Genuine Parts Company $GPC

Ieq Capital LLC bought a new stake in Genuine Parts Company (NYSE:GPC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,028 shares of the specialty retailer’s stock, valued at approximately $1,301,000.

A number of other hedge funds have also modified their holdings of GPC. BlackRock Inc. bought a new position in shares of Genuine Parts in the second quarter valued at about $1,574,910,000. Norges Bank acquired a new position in shares of Genuine Parts in the 4th quarter valued at about $293,471,000. Baupost Group LLC MA acquired a new position in Genuine Parts during the 3rd quarter worth approximately $193,347,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Genuine Parts by 7,774.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,234,984 shares of the specialty retailer’s stock valued at $151,854,000 after buying an additional 1,219,300 shares during the last quarter. Finally, Equity Investment Corp bought a new position in Genuine Parts in the 2nd quarter valued at $114,922,000. 78.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on GPC. UBS Group restated a “neutral” rating and set a $122.00 price objective on shares of Genuine Parts in a research report on Wednesday, July 22nd. DA Davidson lifted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Wednesday, June 24th. Truist Financial upped their price objective on Genuine Parts from $124.00 to $126.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $165.00 price objective on shares of Genuine Parts in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.86.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $139.37 on Thursday. The stock has a market capitalization of $19.21 billion, a price-to-earnings ratio of 557.48 and a beta of 0.63. The business has a 50-day moving average of $125.95 and a 200 day moving average of $114.99. Genuine Parts Company has a 12 month low of $90.78 and a 12 month high of $151.57. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.16 and a quick ratio of 0.50.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.07. Genuine Parts had a return on equity of 22.59% and a net margin of 0.13%.The business had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the previous year, the business earned $2.10 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. As a group, sell-side analysts forecast that Genuine Parts Company will post 7.73 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 4th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.25 annualized dividend and a yield of 3.0%. Genuine Parts’s payout ratio is 1,700.00%.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.