Genuine Parts Company $GPC Shares Bought by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC increased its stake in Genuine Parts by 61.3% in the first quarter, buying 10,141 additional shares and bringing its total to 26,671 shares worth about $2.85 million.
• Institutional ownership in Genuine Parts remains high, with several other funds also adding to positions; overall, 78.83% of the stock is owned by institutions and hedge funds.
• Analysts currently view GPC as a Moderate Buy with a consensus price target of $144.50, while the stock most recently opened at $124.83 and the company reported quarterly earnings that beat expectations.

SteelPeak Wealth LLC raised its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 61.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,671 shares of the specialty retailer's stock after purchasing an additional 10,141 shares during the quarter. SteelPeak Wealth LLC's holdings in Genuine Parts were worth $2,848,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Genuine Parts by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,717 shares of the specialty retailer's stock worth $2,111,000 after acquiring an additional 671 shares during the period. Woodline Partners LP lifted its holdings in Genuine Parts by 40.7% in the first quarter. Woodline Partners LP now owns 11,746 shares of the specialty retailer's stock valued at $1,399,000 after acquiring an additional 3,396 shares during the period. EverSource Wealth Advisors LLC boosted its position in Genuine Parts by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the specialty retailer's stock worth $122,000 after purchasing an additional 137 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Genuine Parts by 5.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 24,954 shares of the specialty retailer's stock worth $3,027,000 after purchasing an additional 1,323 shares in the last quarter. Finally, AXA S.A. grew its stake in shares of Genuine Parts by 37.2% during the 2nd quarter. AXA S.A. now owns 51,292 shares of the specialty retailer's stock worth $6,222,000 after purchasing an additional 13,898 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Transactions at Genuine Parts

In other news, insider James F. Howe sold 415 shares of Genuine Parts stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $104.33, for a total value of $43,296.95. Following the sale, the insider owned 25,589 shares in the company, valued at $2,669,700.37. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.13% of the stock is currently owned by insiders.

Genuine Parts Trading Down 0.7%

Shares of GPC stock opened at $124.83 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 0.48. The company has a market cap of $17.18 billion, a price-to-earnings ratio of 290.31 and a beta of 0.63. The stock has a 50 day simple moving average of $108.16 and a 200-day simple moving average of $115.63. Genuine Parts Company has a 1-year low of $90.78 and a 1-year high of $151.57.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $6.17 billion. During the same quarter last year, the firm posted $1.75 EPS. The business's revenue was up 6.8% on a year-over-year basis. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. On average, equities research analysts expect that Genuine Parts Company will post 7.69 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, June 5th. Genuine Parts's dividend payout ratio (DPR) is presently 988.37%.

Genuine Parts Company 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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