Inspire Investing LLC Increases Stock Position in Genuine Parts Company $GPC

Key Points

• Inspire Investing LLC has increased its holdings in Genuine Parts Company by 11.9%, now owning 16,745 shares valued at approximately $1.995 million.
• Analysts have been bullish on GPC, with price targets raised by several firms, including Truist Financial and Evercore ISI, indicating an overall positive rating trend for the stock.
• Genuine Parts Company reported earnings of $2.10 per share in its latest quarter, exceeding expectations, and announced a quarterly dividend of $1.03 to be paid in October.

Inspire Investing LLC grew its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 11.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,745 shares of the specialty retailer's stock after buying an additional 1,777 shares during the period. Inspire Investing LLC's holdings in Genuine Parts were worth $1,995,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Genuine Parts by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,046 shares of the specialty retailer's stock worth $1,990,000 after acquiring an additional 664 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in shares of Genuine Parts by 19.6% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 5,828 shares of the specialty retailer's stock worth $680,000 after acquiring an additional 954 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Genuine Parts by 5.5% in the 4th quarter. Nuveen Asset Management LLC now owns 344,035 shares of the specialty retailer's stock worth $40,170,000 after acquiring an additional 17,822 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Genuine Parts by 1.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 18,581 shares of the specialty retailer's stock worth $2,173,000 after acquiring an additional 211 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in shares of Genuine Parts in the 4th quarter worth about $240,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. UBS Group raised their target price 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. Loop Capital raised their target price 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. Evercore ISI boosted their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Genuine Parts Trading Down 1.5%

Genuine Parts stock traded down $2.12 during trading hours on Monday, hitting $139.16. The company had a trading volume of 1,454,535 shares, compared to its average volume of 1,135,903. The firm has a market cap of $19.36 billion, a P/E ratio of 23.95 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.29. The company has a 50-day moving average price of $133.98 and a two-hundred day moving average price of $125.44.

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 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 company had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.10 billion. During the same period in the previous year, the company earned $2.44 EPS. The firm's quarterly revenue was up 3.4% on a year-over-year basis. 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 year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio is presently 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.