Genuine Parts Company $GPC Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its stake in Genuine Parts Company (NYSE:GPC) by 1.9%, now holding about 0.35% of the company valued at approximately $57.47 million.
• Genuine Parts reported a quarterly earnings per share (EPS) of $2.10, surpassing analysts' expectations, with a revenue of $6.16 billion.
• The company announced a quarterly dividend of $1.03 per share, reflecting an annual dividend yield of 3.0% and a payout ratio of 70.91%.

Raymond James Financial Inc. trimmed its position in Genuine Parts Company (NYSE:GPC - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 482,352 shares of the specialty retailer's stock after selling 9,312 shares during the period. Raymond James Financial Inc. owned approximately 0.35% of Genuine Parts worth $57,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GPC. Canada Pension Plan Investment Board boosted its stake in Genuine Parts by 436.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock valued at $3,672,000 after acquiring an additional 25,583 shares in the last quarter. First Trust Advisors LP boosted its stake in Genuine Parts by 17.3% in the fourth quarter. First Trust Advisors LP now owns 174,218 shares of the specialty retailer's stock valued at $20,342,000 after acquiring an additional 25,726 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Genuine Parts by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock valued at $198,338,000 after acquiring an additional 182,965 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $289,000. Finally, MetLife Investment Management LLC boosted its stake in Genuine Parts by 1.6% in the fourth quarter. MetLife Investment Management LLC now owns 36,797 shares of the specialty retailer's stock valued at $4,296,000 after acquiring an additional 579 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Truist Financial lifted their price objective on shares of 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 lifted their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI lowered their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of "Moderate Buy" and a consensus target price of $135.29.

Genuine Parts Trading Down 1.3%

NYSE GPC opened at $136.9580 on Thursday. The company has a market capitalization of $19.05 billion, a PE ratio of 23.57 and a beta of 0.75. The company has a fifty day moving average of $127.72 and a 200 day moving average of $123.17. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.49. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51.

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

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. Genuine Parts's payout ratio is currently 70.91%.

About Genuine Parts

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.

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts Company (NYSE:GPC - Free Report).

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.