Gulf International Bank UK Ltd Sells 3,460 Shares of Genuine Parts Company $GPC

Key Points

• Gulf International Bank UK Ltd reduced its stake in Genuine Parts Company by 31.2% during the first quarter, leaving it with 7,629 shares valued at $908,000.
• The company's latest earnings report showed a net revenue increase to $6.16 billion and earnings per share of $2.10, exceeding analyst expectations.
• Genuine Parts also announced a quarterly dividend of $1.03 per share, translating to an annualized dividend yield of 3.0%, with a payout ratio of 70.91%.

Gulf International Bank UK Ltd cut its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 31.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,629 shares of the specialty retailer's stock after selling 3,460 shares during the period. Gulf International Bank UK Ltd's holdings in Genuine Parts were worth $908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Prudential PLC raised its position in Genuine Parts by 101.0% in the 1st quarter. Prudential PLC now owns 4,896 shares of the specialty retailer's stock worth $583,000 after purchasing an additional 2,460 shares during the period. Resona Asset Management Co. Ltd. increased its stake in Genuine Parts by 3.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 60,444 shares of the specialty retailer's stock worth $7,186,000 after purchasing an additional 2,276 shares during the period. HighTower Advisors LLC increased its stake in Genuine Parts by 1.5% in the first quarter. HighTower Advisors LLC now owns 129,788 shares of the specialty retailer's stock worth $15,463,000 after purchasing an additional 1,916 shares during the period. Public Sector Pension Investment Board increased its stake in Genuine Parts by 1,326.3% in the first quarter. Public Sector Pension Investment Board now owns 246,872 shares of the specialty retailer's stock worth $29,412,000 after purchasing an additional 229,564 shares during the period. Finally, Independent Advisor Alliance increased its stake in Genuine Parts by 2.5% in the 1st quarter. Independent Advisor Alliance now owns 28,801 shares of the specialty retailer's stock worth $3,431,000 after buying an additional 709 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 0.6%

NYSE GPC traded down $0.8650 during trading on Thursday, hitting $136.1250. The company had a trading volume of 223,064 shares, compared to its average volume of 1,394,560. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.49. The company has a market cap of $18.93 billion, a price-to-earnings ratio of 23.44 and a beta of 0.75. The company's fifty day moving average is $127.72 and its 200-day moving average is $123.17.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data 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 business 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%.The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, sell-side analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on GPC. Evercore ISI reduced their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Loop Capital raised their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Argus upgraded Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Finally, UBS Group raised their price objective on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.29.

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.