Fifth Third Bancorp Raises Position in Genuine Parts Company $GPC

Key Points

• Fifth Third Bancorp boosted its stake in Genuine Parts by 408.2% in the first quarter, ending with 74,500 shares worth about $7.88 million.
• Genuine Parts reported better-than-expected Q1 earnings, posting EPS of $1.77 on revenue of $6.26 billion, with revenue up 6.8% year over year.
• The company paid a quarterly dividend of $1.0625 per share, equal to an annualized yield of about 3.5%, while analysts currently rate the stock a Moderate Buy with an average price target of $144.50.

Fifth Third Bancorp grew its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 408.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,500 shares of the specialty retailer's stock after acquiring an additional 59,839 shares during the period. Fifth Third Bancorp owned about 0.05% of Genuine Parts worth $7,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Genuine Parts by 85.0% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,262 shares of the specialty retailer's stock valued at $3,200,000 after purchasing an additional 13,900 shares in the last quarter. Montag A & Associates Inc. increased its stake in shares of Genuine Parts by 19.6% in the first quarter. Montag A & Associates Inc. now owns 64,855 shares of the specialty retailer's stock worth $6,923,000 after purchasing an additional 10,622 shares in the last quarter. TABR Capital Management LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth $4,217,000. Conning Inc. raised its position in shares of Genuine Parts by 5.7% during the 4th quarter. Conning Inc. now owns 246,390 shares of the specialty retailer's stock valued at $30,296,000 after purchasing an additional 13,357 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Genuine Parts by 19.5% during the 4th quarter. Hsbc Holdings PLC now owns 477,970 shares of the specialty retailer's stock valued at $58,887,000 after purchasing an additional 77,936 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Genuine Parts

In other news, insider James F. Howe sold 415 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total transaction of $43,296.95. Following the completion of the transaction, the insider directly owned 25,589 shares in the company, valued at approximately $2,669,700.37. This represents a 1.60% decrease in their position. The transaction was disclosed in a legal filing 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. Corporate insiders own 0.13% of the company's stock.

Genuine Parts Trading Down 0.8%

Shares of Genuine Parts stock opened at $121.24 on Thursday. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 281.96 and a beta of 0.63. The business has a 50-day moving average price of $107.35 and a 200-day moving average price of $115.56. The company has a quick ratio of 0.48, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. Genuine Parts Company has a twelve month low of $90.78 and a twelve month high of $151.57.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.02. Genuine Parts had a return on equity of 22.28% and a net margin of 0.24%.The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.17 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The business's revenue 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. Equities research analysts anticipate that Genuine Parts Company will post 7.69 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, June 5th. Genuine Parts's dividend payout ratio is 988.37%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GPC. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Genuine Parts in a report on Wednesday, June 24th. Zacks Research raised Genuine Parts from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. DA Davidson upped their price objective on Genuine Parts from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Truist Financial cut their target price on Genuine Parts from $127.00 to $124.00 and set a "hold" rating for the company in a research report on Wednesday, April 22nd. Finally, UBS Group decreased their target price on Genuine Parts from $135.00 to $125.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $144.50.

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.

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