Bank of New York Mellon Corp Has $114.48 Million Position in Genuine Parts Company $GPC

Key Points

• Bank of New York Mellon increased its stake in Genuine Parts by 13% in the fourth quarter, ending with 931,028 shares valued at about $114.5 million.
• Genuine Parts reported better-than-expected quarterly results, posting EPS of $1.77 versus $1.75 expected and revenue of $6.26 billion, up 6.8% year over year.
• The company also announced a quarterly dividend of $1.0625 per share, which annualizes to $4.25 and implies a dividend yield of about 4.3%.

Bank of New York Mellon Corp grew its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 931,028 shares of the specialty retailer's stock after buying an additional 107,006 shares during the quarter. Bank of New York Mellon Corp owned 0.67% of Genuine Parts worth $114,479,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Olistico Wealth LLC acquired a new position in shares of Genuine Parts in the 4th quarter worth approximately $25,000. Community Bank N.A. bought a new position in shares of Genuine Parts during the third quarter valued at $27,000. WPG Advisers LLC lifted its holdings in shares of Genuine Parts by 213.0% during the fourth quarter. WPG Advisers LLC now owns 241 shares of the specialty retailer's stock valued at $30,000 after acquiring an additional 164 shares during the period. Lodestone Wealth Management LLC acquired a new stake in shares of Genuine Parts in the 4th quarter valued at $32,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Genuine Parts in the 4th quarter worth about $33,000. 78.83% of the stock is owned by institutional investors.

Insider Transactions at Genuine Parts

In related news, insider James F. Howe sold 415 shares of Genuine Parts stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total value of $43,296.95. Following the completion of the sale, the insider directly owned 25,589 shares in the company, valued at $2,669,700.37. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.13% of the stock is currently owned by corporate insiders.

Genuine Parts Trading Down 0.1%

GPC opened at $98.05 on Monday. Genuine Parts Company has a 1-year low of $90.78 and a 1-year high of $151.57. The stock has a market capitalization of $13.49 billion, a PE ratio of 228.02 and a beta of 0.67. The company has a current ratio of 1.09, a quick ratio of 0.48 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $103.39 and a two-hundred day moving average price of $118.28.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.02. Genuine Parts had a net margin of 0.24% and a return on equity of 22.28%. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same quarter last year, the business posted $1.75 earnings per share. Genuine Parts's revenue for the quarter was up 6.8% compared to the same quarter last year. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. As a group, equities analysts anticipate that Genuine Parts Company will post 7.65 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 5th will be issued a $1.0625 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.25 annualized dividend and a yield of 4.3%. Genuine Parts's dividend payout ratio (DPR) is currently 988.37%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GPC shares. Raymond James Financial upgraded shares of Genuine Parts from a "market perform" rating to a "strong-buy" rating and set a $145.00 target price for the company in a research report on Tuesday, February 24th. Weiss Ratings restated a "hold (c-)" rating on shares of Genuine Parts in a research report on Friday, March 27th. Zacks Research raised shares of Genuine Parts from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Truist Financial cut their target price on shares of Genuine Parts from $127.00 to $124.00 and set a "hold" rating for the company in a research note on Wednesday, April 22nd. Finally, Evercore set a $160.00 target price on Genuine Parts in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $143.71.

Genuine Parts Company 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.

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