Ethic Inc. Sells 3,757 Shares of Genuine Parts Company $GPC

Key Points

• Ethic Inc. reduced its stake in Genuine Parts Company by 10.7%, holding 31,515 shares valued at approximately $3.73 million after selling 3,757 shares in Q1.
• The company reported $2.10 EPS for the last quarter, exceeding analysts' expectations, with a 3.4% year-over-year revenue increase.
• Genuine Parts announced a quarterly dividend of $1.03 per share, representing a 3.0% yield, to be paid on October 2nd.

Ethic Inc. reduced its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 31,515 shares of the specialty retailer's stock after selling 3,757 shares during the quarter. Ethic Inc.'s holdings in Genuine Parts were worth $3,733,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GPC. Dimensional Fund Advisors LP lifted its stake in shares of Genuine Parts by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer's stock worth $211,816,000 after acquiring an additional 79,253 shares during the period. Horizon Investments LLC raised its holdings in Genuine Parts by 4.8% during the 1st quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock worth $238,000 after purchasing an additional 91 shares during the last quarter. Sei Investments Co. lifted its position in shares of Genuine Parts by 15.7% in the 1st quarter. Sei Investments Co. now owns 125,724 shares of the specialty retailer's stock worth $14,823,000 after purchasing an additional 17,025 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in shares of Genuine Parts by 19.2% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 33,710 shares of the specialty retailer's stock valued at $4,016,000 after purchasing an additional 5,418 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of Genuine Parts by 8.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,236 shares of the specialty retailer's stock worth $624,000 after buying an additional 423 shares during the period. Institutional investors own 78.83% of the company's stock.

Analysts Set New Price Targets

GPC has been the subject of a number of research reports. UBS Group raised their price target 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 Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Evercore ISI dropped their price target on 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 Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Finally, Argus upgraded Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. One 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $135.29.

Genuine Parts Stock Down 1.3%

GPC traded down $1.7920 during midday trading on Wednesday, reaching $136.9580. 635,799 shares of the company were exchanged, compared to its average volume of 1,402,100. The company has a market cap of $19.05 billion, a price-to-earnings ratio of 23.57 and a beta of 0.75. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.49. The company's fifty day moving average price is $127.45 and its 200 day moving average price is $123.07. 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 (NYSE:GPC - Get Free Report) last announced its earnings results 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. The company had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.Genuine Parts's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

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