DAVENPORT & Co LLC Has $65.55 Million Position in Genuine Parts Company $GPC

DAVENPORT & Co LLC lessened its position in Genuine Parts Company (NYSE:GPC) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 472,315 shares of the specialty retailer’s stock after selling 5,798 shares during the period. DAVENPORT & Co LLC’s holdings in Genuine Parts were worth $65,546,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Inspire Investing LLC boosted its holdings in shares of Genuine Parts by 11.9% in the 1st quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock worth $1,995,000 after acquiring an additional 1,777 shares in the last quarter. Revisor Wealth Management LLC raised its position in Genuine Parts by 75.2% in the 2nd quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock valued at $853,000 after purchasing an additional 2,910 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Genuine Parts by 276.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after purchasing an additional 2,461,497 shares in the last quarter. Synergy Asset Management LLC bought a new stake in shares of Genuine Parts during the second quarter worth $3,516,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Genuine Parts by 16.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,089 shares of the specialty retailer’s stock valued at $3,165,000 after buying an additional 3,659 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $138.12, for a total transaction of $732,450.36. Following the transaction, the executive vice president owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GPC has been the topic of several research reports. Truist Financial upped their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a research report on Wednesday, December 17th. UBS Group upped their price objective on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and lifted their target price for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Genuine Parts Trading Down 1.1%

Shares of NYSE GPC opened at $123.83 on Wednesday. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48. The firm has a market capitalization of $17.23 billion, a P/E ratio of 21.31 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. The company’s 50 day simple moving average is $128.73 and its 200 day simple moving average is $130.84.

Genuine Parts (NYSE:GPC) last issued 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). The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, December 5th. Genuine Parts’s dividend payout ratio (DPR) is currently 70.91%.

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.