Dynamic Technology Lab Private Ltd Acquires New Position in Genuine Parts Company $GPC

Key Points

• Dynamic Technology Lab Private Ltd has invested approximately $670,000 in Genuine Parts Company by purchasing 5,623 shares in the first quarter.
• Genuine Parts reported strong earnings with an EPS of $2.10, surpassing estimates and indicating a 3.4% revenue increase year-over-year.
• The company has declared a quarterly dividend of $1.03, resulting in an annual yield of 3.0%, with an upcoming payment date of October 2nd.

Dynamic Technology Lab Private Ltd bought a new stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,623 shares of the specialty retailer's stock, valued at approximately $670,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GPC. Goldman Sachs Group Inc. increased its holdings in Genuine Parts by 276.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock valued at $399,449,000 after buying an additional 2,461,497 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Genuine Parts by 22.1% in the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock worth $327,974,000 after purchasing an additional 498,469 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Genuine Parts by 20,194.9% in the first quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock worth $56,749,000 after purchasing an additional 473,975 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Genuine Parts by 26.5% in the fourth quarter. ProShare Advisors LLC now owns 1,679,256 shares of the specialty retailer's stock worth $196,070,000 after purchasing an additional 351,863 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Genuine Parts in the first quarter worth $41,646,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Genuine Parts Price Performance

GPC stock traded down $1.41 during trading on Friday, hitting $141.36. 856,705 shares of the company's stock traded hands, compared to its average volume of 1,157,335. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The business has a fifty day simple moving average of $133.70 and a 200 day simple moving average of $125.30. The stock has a market capitalization of $19.66 billion, a price-to-earnings ratio of 24.33 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 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $6.10 billion. During the same quarter last year, the business earned $2.44 earnings per share. Genuine Parts's quarterly revenue 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, research analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is 70.91%.

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.