Divergent Planning LLC Invests $291,000 in Genuine Parts Company $GPC

Key Points

• Divergent Planning LLC invested approximately $291,000 in Genuine Parts Company (GPC), acquiring 2,399 shares during Q2.
• Several brokerages have increased their price targets for GPC, with JPMorgan Chase raising theirs from $134 to $145 and issuing an "overweight" rating.
• Genuine Parts Company announced a quarterly dividend of $1.03, reflecting an annualized yield of 3.1% and a dividend payout ratio of 70.91%.

Divergent Planning LLC acquired a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,399 shares of the specialty retailer's stock, valued at approximately $291,000.

A number of other hedge funds have also recently made changes to their positions in GPC. Rossby Financial LCC bought a new position in Genuine Parts in the 1st quarter valued at about $25,000. Olde Wealth Management LLC purchased a new stake in shares of Genuine Parts in the first quarter worth approximately $27,000. North Capital Inc. bought a new position in shares of Genuine Parts in the first quarter valued at approximately $28,000. Concord Wealth Partners boosted its position in shares of Genuine Parts by 148.7% during the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer's stock valued at $36,000 after buying an additional 177 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock worth $38,000 after buying an additional 318 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on GPC. JPMorgan Chase & Co. raised their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Truist Financial boosted their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Evercore ISI increased their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Finally, UBS Group lifted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a "neutral" rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $138.86.

Insider Buying and Selling

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction dated 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 owned 26,112 shares of the company's stock, valued at $3,606,589.44. The trade was a 16.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is currently owned by corporate insiders.

Genuine Parts Stock Performance

NYSE GPC opened at $131.71 on Tuesday. The firm has a market cap of $18.32 billion, a P/E ratio of 22.67 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The company's 50 day moving average is $137.50 and its 200-day moving average is $128.00. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.21.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. The business had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.44 EPS. Sell-side analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were paid a $1.03 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.1%. Genuine Parts's dividend payout ratio (DPR) is currently 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.

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