GLOBALT Investments LLC GA Has $4.66 Million Stock Position in Genuine Parts Company $GPC

Key Points

• GLOBALT Investments LLC reduced its stake in Genuine Parts Company by 4.9%, now holding shares worth approximately $4.66 million.
• Recent analyst reports have raised price targets for Genuine Parts, with Loop Capital increasing it to $160.00 while maintaining a "buy" rating.
• Genuine Parts reported quarterly earnings of $1.98 per share, which was below analyst expectations, but revenue increased by 4.9% year-over-year.

GLOBALT Investments LLC GA lessened its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,423 shares of the specialty retailer's stock after selling 1,982 shares during the period. GLOBALT Investments LLC GA's holdings in Genuine Parts were worth $4,661,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Rossby Financial LCC bought a new position in Genuine Parts during the 1st quarter worth $25,000. Olde Wealth Management LLC bought a new position in shares of Genuine Parts in the first quarter worth $27,000. North Capital Inc. acquired a new position in Genuine Parts in the first quarter valued at about $28,000. Concord Wealth Partners lifted its position in Genuine Parts by 148.7% during the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer's stock worth $36,000 after purchasing an additional 177 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock worth $38,000 after buying an additional 318 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GPC has been the topic of several recent analyst reports. Loop Capital lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on Genuine Parts from $145.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday. UBS Group boosted their target price on Genuine Parts from $135.00 to $140.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Evercore ISI raised their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Finally, Truist Financial upped their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned 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, Genuine Parts presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.33.

Insider Buying and Selling

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the company's stock in a transaction on Friday, September 26th. The shares were sold at an average price of $138.12, for a total transaction of $732,450.36. Following the transaction, the executive vice president owned 26,112 shares in the company, valued at approximately $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.42% of the company's stock.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $133.30 on Friday. The firm has a market capitalization of $18.54 billion, a P/E ratio of 22.94 and a beta of 0.77. The firm's 50-day moving average price is $137.30 and its 200-day moving average price is $128.23. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $143.48.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share for the quarter, missing analysts' consensus estimates of $2.02 by ($0.04). The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The firm's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.1%. Genuine Parts's dividend payout ratio (DPR) is presently 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.

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