Genuine Parts Company $GPC Stock Position Lifted by First Trust Advisors LP

First Trust Advisors LP grew its position in Genuine Parts Company (NYSE:GPC) by 119.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 403,640 shares of the specialty retailer’s stock after acquiring an additional 219,524 shares during the quarter. First Trust Advisors LP’s holdings in Genuine Parts were worth $48,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in Genuine Parts by 8,833.3% in the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 265 shares during the period. Concord Wealth Partners lifted its position in shares of Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after buying an additional 177 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Genuine Parts by 7,825.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 313 shares during the period. Quaker Wealth Management LLC grew its position in shares of Genuine Parts by 11,533.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 346 shares during the last quarter. Finally, Cromwell Holdings LLC grew its position in shares of Genuine Parts by 49.1% during the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 114 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 of the company’s stock, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is owned by company insiders.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $128.72 on Tuesday. The stock has a market cap of $17.91 billion, a P/E ratio of 22.16 and a beta of 0.74. The firm’s 50-day simple moving average is $130.31 and its 200 day simple moving average is $130.69. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week 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.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS 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 for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the business posted $1.88 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Evercore ISI raised their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. UBS Group upped 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 reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Finally, Truist Financial boosted their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.