LifeWealth Investments LLC Takes Position in Genuine Parts Company $GPC

Key Points

• LifeWealth Investments LLC purchased 2,676 shares of Genuine Parts Company, marking a new stake valued at approximately $325,000.
• Genuine Parts reported $1.98 earnings per share for the quarter, missing analysts' expectations of $2.02, though revenue increased to $6.26 billion.
• The company declared a quarterly dividend of $1.03, with a yield of 3.1%, reflecting a dividend payout ratio of 70.91%.

LifeWealth Investments LLC acquired a new stake in Genuine Parts Company (NYSE:GPC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,676 shares of the specialty retailer's stock, valued at approximately $325,000.

Other hedge funds have also made changes to their positions in the company. Inspire Investing LLC increased its holdings in shares of Genuine Parts by 11.9% in the 1st quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer's stock valued at $1,995,000 after acquiring an additional 1,777 shares during the last quarter. Revisor Wealth Management LLC boosted its position in shares of Genuine Parts by 75.2% in the 2nd quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer's stock valued at $853,000 after purchasing an additional 2,910 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Genuine Parts by 11.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,430 shares of the specialty retailer's stock valued at $2,657,000 after purchasing an additional 2,290 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Genuine Parts by 276.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock valued at $399,449,000 after purchasing an additional 2,461,497 shares during the period. Finally, Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts in the 2nd quarter valued at about $3,516,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Up 0.3%

Genuine Parts stock opened at $133.30 on Friday. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $143.48. The stock has a 50 day moving average of $137.30 and a two-hundred day moving average of $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. The stock has a market capitalization of $18.54 billion, a price-to-earnings ratio of 22.94 and a beta of 0.77.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data 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). Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the business posted $1.88 earnings per share. The firm's revenue was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Evercore ISI upped their target price on Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their target price on Genuine Parts from $145.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday. Weiss Ratings reissued a "hold (c)" rating on shares of Genuine Parts in a research report on Wednesday, October 8th. UBS Group upped their target price on Genuine Parts from $135.00 to $140.00 and gave the company a "neutral" rating in a research report on Friday, October 10th. Finally, Truist Financial upped their target price on Genuine Parts from $143.00 to $146.00 and gave the company a "buy" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $143.33.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the firm's stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the sale, the executive vice president directly owned 26,112 shares of the company's stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is owned by corporate insiders.

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.

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