Genuine Parts Company $GPC Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp decreased its stake in Genuine Parts Company by 2.8% in the 1st quarter, holding approximately 1.00% of the company valued at $165.76 million after selling 40,223 shares.
• Genuine Parts reported earnings of $2.10 per share for the last quarter, exceeding the consensus estimate of $2.08, with revenues reaching $6.16 billion.
• The company declared a quarterly dividend of $1.03, resulting in an annualized yield of 3.0%, to be paid on October 2nd.

Northern Trust Corp cut its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,391,340 shares of the specialty retailer's stock after selling 40,223 shares during the period. Northern Trust Corp owned 1.00% of Genuine Parts worth $165,764,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rossby Financial LCC bought a new stake in shares of Genuine Parts during the 1st quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in shares of Genuine Parts during the 1st quarter valued at $27,000. North Capital Inc. bought a new stake in shares of Genuine Parts during the 1st quarter valued at $28,000. Investors Research Corp raised its position in shares of Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 125 shares during the period. Finally, Golden State Wealth Management LLC raised its position in shares of Genuine Parts by 7,950.0% during the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 318 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GPC has been the topic of a number of research reports. Loop Capital lifted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Truist Financial lifted their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. UBS Group lifted their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $135.29.

Genuine Parts Price Performance

Shares of Genuine Parts stock traded up $3.1690 during trading hours on Friday, reaching $139.4990. The company's stock had a trading volume of 943,383 shares, compared to its average volume of 1,128,814. The firm has a 50 day moving average price of $128.41 and a 200-day moving average price of $123.53. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.49. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The stock has a market cap of $19.40 billion, a P/E ratio of 24.01 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 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 the consensus estimate of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.03 per share. 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 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.