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Generali Asset Management SPA SGR Trims Stake in Genuine Parts Company $GPC

Genuine Parts logo with Retail/Wholesale background

Generali Asset Management SPA SGR reduced its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 13.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,572 shares of the specialty retailer's stock after selling 2,464 shares during the period. Generali Asset Management SPA SGR's holdings in Genuine Parts were worth $1,889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Genuine Parts by 276.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock worth $399,449,000 after purchasing an additional 2,461,497 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Genuine Parts by 4.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer's stock worth $358,387,000 after purchasing an additional 119,653 shares in 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. Dimensional Fund Advisors LP increased its stake in shares of Genuine Parts by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer's stock worth $211,816,000 after purchasing an additional 79,253 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Genuine Parts by 3.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,427,507 shares of the specialty retailer's stock worth $170,073,000 after purchasing an additional 48,139 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Evercore ISI upped their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Truist Financial upped their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Loop Capital upped their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $138.86.

Check Out Our Latest Stock Report on Genuine Parts

Genuine Parts Price Performance

GPC stock opened at $133.65 on Friday. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. 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 has a fifty day simple moving average of $137.54 and a two-hundred day simple moving average of $127.67. The firm has a market capitalization of $18.59 billion, a P/E ratio of 23.00 and a beta of 0.77.

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. Analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were given a dividend of $1.03 per share. 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 70.91%.

Insider Activity

In other news, EVP Naveen Krishna sold 5,303 shares of the firm's stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the sale, the executive vice president owned 26,112 shares in the company, valued at approximately $3,606,589.44. This trade represents a 16.88% 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. Company insiders own 0.42% of the company's stock.

Genuine Parts Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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