Genuine Parts Company $GPC Shares Sold by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd reduced its stake in Genuine Parts Company by 6.5%, selling 1,786 shares, resulting in total holdings worth $3,073,000.
• Brokerages have recently increased their target prices for Genuine Parts, with recommendations ranging from "Strong Buy" to "Hold" and a consensus target price of $137.86.
• Genuine Parts announced a quarterly dividend of $1.03 per share, which will yield 2.9%, set to be paid on October 2nd.

IFM Investors Pty Ltd cut its position in Genuine Parts Company (NYSE:GPC - Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,797 shares of the specialty retailer's stock after selling 1,786 shares during the quarter. IFM Investors Pty Ltd's holdings in Genuine Parts were worth $3,073,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Horizon Investments LLC grew its stake in shares of Genuine Parts by 4.8% in the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock valued at $238,000 after buying an additional 91 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Genuine Parts by 2.8% in the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock valued at $402,000 after buying an additional 93 shares in the last quarter. Truvestments Capital LLC grew its stake in shares of Genuine Parts by 11.9% in the first quarter. Truvestments Capital LLC now owns 895 shares of the specialty retailer's stock valued at $107,000 after buying an additional 95 shares in the last quarter. Strategic Wealth Partners Ltd. grew its stake in shares of Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after buying an additional 98 shares in the last quarter. Finally, Keybank National Association OH grew its stake in shares of Genuine Parts by 0.5% in the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after buying an additional 98 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GPC. Evercore ISI lifted their price objective on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Truist Financial boosted their target price on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. UBS Group boosted their target price on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Loop Capital boosted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Genuine Parts Stock Down 1.0%

Shares of NYSE GPC opened at $141.36 on Friday. The company has a market capitalization of $19.66 billion, a price-to-earnings ratio of 24.33 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The business has a 50-day moving average of $133.70 and a two-hundred day moving average of $125.30. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.29.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.Genuine Parts's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's payout ratio is 70.91%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.