Genuine Parts Company $GPC Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Genuine Parts Company by 4.1% in the second quarter, owning approximately 0.06% of the company valued at $10.4 million.
• Insider EVP Naveen Krishna sold 5,303 shares at an average price of $138.12, which represents a 16.88% decrease in his ownership stake.
• Wall Street analysts have a consensus rating of "Hold" for Genuine Parts with a price target of $138.86, while some analysts have upgraded their ratings to "Outperform" and "Buy."

Aberdeen Group plc increased its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 4.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 85,803 shares of the specialty retailer's stock after acquiring an additional 3,417 shares during the quarter. Aberdeen Group plc owned approximately 0.06% of Genuine Parts worth $10,409,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Rossby Financial LCC acquired a new position in shares of Genuine Parts in the 1st quarter worth $25,000. Olde Wealth Management LLC acquired a new position in shares of Genuine Parts in the 1st quarter worth $27,000. North Capital Inc. purchased a new position in shares of Genuine Parts during the first quarter valued at $28,000. Golden State Wealth Management LLC grew its holdings in shares of 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 valued at $38,000 after buying an additional 318 shares in the last quarter. Finally, Cromwell Holdings LLC grew its holdings in shares of Genuine Parts by 49.1% during the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer's stock valued at $42,000 after buying an additional 114 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Genuine Parts

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GPC shares. Evercore ISI lifted their price target on Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price target on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Genuine Parts in a report on Wednesday, October 8th. UBS Group lifted their price target on Genuine Parts from $135.00 to $140.00 and gave the company a "neutral" rating in a report on Friday, October 10th. Finally, Loop Capital lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of "Hold" and a consensus price target of $138.86.

Genuine Parts Price Performance

GPC opened at $133.67 on Thursday. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 23.01 and a beta of 0.77. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.29. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock has a fifty day moving average price of $137.54 and a 200 day moving average price of $127.57.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. Genuine Parts's payout ratio is currently 70.91%.

Genuine Parts 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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