Genuine Parts Company $GPC Shares Bought by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its stake in Genuine Parts Company by 6.5%, acquiring 4,081 shares during the first quarter, making their total holdings worth approximately $7.98 million.
• Genuine Parts announced a quarterly dividend of $1.03 per share, with an annualized yield of 3.0%, to be paid on October 2nd.
• Brokerage firms have raised their price objectives for Genuine Parts, with estimates ranging from $135.00 to $160.00, reflecting varied ratings from "Outperform" to "Neutral".

Advisors Asset Management Inc. increased its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,962 shares of the specialty retailer's stock after buying an additional 4,081 shares during the period. Advisors Asset Management Inc.'s holdings in Genuine Parts were worth $7,978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GPC. Rossby Financial LCC acquired a new position in Genuine Parts in the first quarter worth $25,000. Olde Wealth Management LLC acquired a new position in Genuine Parts in the first quarter worth $27,000. North Capital Inc. acquired a new position in Genuine Parts in the first quarter worth $28,000. Investors Research Corp boosted its holdings in Genuine Parts by 75.3% in the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 125 shares during the period. Finally, Golden State Wealth Management LLC grew its position in shares of Genuine Parts by 7,950.0% during the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after buying an additional 318 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of recent research reports. Loop Capital boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. UBS Group boosted their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Truist Financial boosted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Evercore ISI boosted their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Genuine Parts has a consensus rating of "Moderate Buy" and a consensus price target of $137.86.

Genuine Parts Stock Performance

Shares of GPC stock traded down $1.64 during trading hours on Tuesday, reaching $138.21. The stock had a trading volume of 264,301 shares, compared to its average volume of 1,386,588. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.29. The firm has a 50-day simple moving average of $132.60 and a 200-day simple moving average of $124.83. The firm has a market capitalization of $19.22 billion, a PE ratio of 23.79 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. During the same quarter last year, the company earned $2.44 EPS. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, equities analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts's payout ratio is 70.91%.

Genuine Parts Company 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.