Janney Montgomery Scott LLC Sells 27,178 Shares of Genuine Parts Company $GPC

Key Points

• Janney Montgomery Scott LLC decreased its stake in Genuine Parts Company by 8.5%, selling 27,178 shares and retaining ownership of approximately 294,313 shares valued at $35.7 million.
• Genuine Parts Company reported a quarterly EPS of $2.10, exceeding expectations, and its revenue increased by 3.4% over the same period last year.
• The company declared a quarterly dividend of $1.03 per share, representing an annualized yield of 3.0%, with the ex-dividend date set for September 5th.

Janney Montgomery Scott LLC lowered its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 8.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 294,313 shares of the specialty retailer's stock after selling 27,178 shares during the quarter. Janney Montgomery Scott LLC owned about 0.21% of Genuine Parts worth $35,703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Invesco LLC lifted its stake in shares of Genuine Parts by 3.8% in the second quarter. Invesco LLC now owns 19,150 shares of the specialty retailer's stock worth $2,323,000 after buying an additional 696 shares during the last quarter. Albion Financial Group UT raised its holdings in Genuine Parts by 3.7% in the 2nd quarter. Albion Financial Group UT now owns 20,757 shares of the specialty retailer's stock worth $2,518,000 after acquiring an additional 749 shares during the period. WD Rutherford LLC acquired a new position in Genuine Parts during the 2nd quarter worth $50,000. Brown Lisle Cummings Inc. lifted its position in Genuine Parts by 5.7% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer's stock worth $187,000 after acquiring an additional 83 shares during the last quarter. Finally, Old Port Advisors boosted its holdings in Genuine Parts by 15.7% during the second quarter. Old Port Advisors now owns 14,930 shares of the specialty retailer's stock valued at $1,811,000 after acquiring an additional 2,031 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $138.58 on Wednesday. The firm has a market cap of $19.28 billion, a P/E ratio of 23.85 and a beta of 0.75. The firm's 50-day simple moving average is $136.89 and its 200-day simple moving average is $126.52. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.29. 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 quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.10 billion. During the same quarter last year, the company earned $2.44 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, research analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GPC shares. JPMorgan Chase & Co. increased their target price on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Truist Financial raised 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. Loop Capital upped their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. 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 research report on Wednesday, July 23rd. Finally, Evercore ISI upped their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $137.86.

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.

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.