12,728 Shares in Genuine Parts Company $GPC Purchased by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new stake in shares of Genuine Parts Company (NYSE:GPC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,728 shares of the specialty retailer’s stock, valued at approximately $1,544,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Genuine Parts by 56.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 399,195 shares of the specialty retailer’s stock valued at $48,426,000 after acquiring an additional 143,327 shares during the period. Distillate Capital Partners LLC bought a new position in Genuine Parts during the 2nd quarter valued at $12,953,000. Fisher Asset Management LLC boosted its stake in Genuine Parts by 11.7% during the 2nd quarter. Fisher Asset Management LLC now owns 2,145 shares of the specialty retailer’s stock valued at $260,000 after purchasing an additional 225 shares in the last quarter. Lido Advisors LLC increased its position in shares of Genuine Parts by 2.7% during the 2nd quarter. Lido Advisors LLC now owns 9,199 shares of the specialty retailer’s stock valued at $1,125,000 after purchasing an additional 246 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Genuine Parts by 3.2% in the 2nd quarter. New York State Common Retirement Fund now owns 65,009 shares of the specialty retailer’s stock worth $7,886,000 after buying an additional 2,000 shares in the last quarter. 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. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and raised their price objective for the company from $130.00 to $142.00 in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. UBS Group boosted their price objective 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. JPMorgan Chase & Co. boosted their target price on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Finally, Evercore ISI increased their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $148.00.

Genuine Parts Stock Performance

NYSE:GPC opened at $130.00 on Tuesday. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $143.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 22.38 and a beta of 0.75. The firm’s 50-day moving average is $131.16 and its 200-day moving average is $130.62.

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

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 5th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, December 5th. Genuine Parts’s dividend payout ratio is 70.91%.

Insider Activity

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the 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 completion of the transaction, the executive vice president directly owned 26,112 shares in the company, valued at $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.42% of the company’s stock.

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.