Genuine Parts Company $GPC Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 16.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,089 shares of the specialty retailer's stock after purchasing an additional 3,659 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Genuine Parts were worth $3,165,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Genuine Parts by 6.2% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 5,517 shares of the specialty retailer's stock worth $669,000 after purchasing an additional 322 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of Genuine Parts during the second quarter worth $650,000. J2 Capital Management Inc increased its holdings in shares of Genuine Parts by 35.5% in the 2nd quarter. J2 Capital Management Inc now owns 4,115 shares of the specialty retailer's stock worth $499,000 after acquiring an additional 1,079 shares during the period. DMKC Advisory Services LLC increased its holdings in shares of Genuine Parts by 11.6% in the 2nd quarter. DMKC Advisory Services LLC now owns 14,357 shares of the specialty retailer's stock worth $1,774,000 after acquiring an additional 1,490 shares during the period. Finally, Naples Global Advisors LLC increased its holdings in shares of Genuine Parts by 4.9% in the 2nd quarter. Naples Global Advisors LLC now owns 19,159 shares of the specialty retailer's stock worth $2,342,000 after acquiring an additional 895 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Genuine Parts

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 transaction of $732,450.36. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Company insiders own 0.42% of the company's stock.

Genuine Parts Stock Performance

Shares of GPC opened at $135.97 on Wednesday. The firm has a 50-day moving average price of $137.39 and a 200 day moving average price of $127.08. The firm has a market capitalization of $18.91 billion, a PE ratio of 23.40 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. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.29.

Genuine Parts (NYSE:GPC - Get Free Report) last announced 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 firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. Genuine Parts's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, sell-side analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders 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 dividend yield of 3.0%. Genuine Parts's dividend payout ratio (DPR) is 70.91%.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Genuine Parts in a report on Saturday, September 27th. 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 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 stock an "outperform" rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Loop Capital increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of "Hold" and an average price target of $138.14.

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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