OP Asset Management Ltd Buys New Holdings in Genuine Parts Company $GPC

Key Points

• OP Asset Management Ltd opened a new position in Genuine Parts Company in the first quarter, buying 15,358 shares valued at about $1.624 million.
• Institutional ownership in GPC remains high at 78.83%, while insider activity showed James F. Howe sold 415 shares in a pre-arranged Rule 10b5-1 transaction.
• Genuine Parts reported better-than-expected quarterly earnings and revenue, and analysts currently rate the stock a Moderate Buy with an average target price of $143.88.

OP Asset Management Ltd purchased a new position in Genuine Parts Company (NYSE:GPC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,358 shares of the specialty retailer's stock, valued at approximately $1,624,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. United Asset Strategies Inc. increased its stake in shares of Genuine Parts by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,492 shares of the specialty retailer's stock worth $552,000 after acquiring an additional 72 shares during the period. J2 Capital Management Inc lifted its position in Genuine Parts by 1.9% during the fourth quarter. J2 Capital Management Inc now owns 4,136 shares of the specialty retailer's stock valued at $509,000 after purchasing an additional 79 shares during the period. Capital Investment Advisors LLC lifted its position in Genuine Parts by 0.6% during the fourth quarter. Capital Investment Advisors LLC now owns 14,173 shares of the specialty retailer's stock valued at $1,743,000 after purchasing an additional 83 shares during the period. IHT Wealth Management LLC boosted its holdings in Genuine Parts by 1.8% in the fourth quarter. IHT Wealth Management LLC now owns 4,644 shares of the specialty retailer's stock valued at $571,000 after purchasing an additional 83 shares during the last quarter. Finally, Matrix Trust Co boosted its holdings in Genuine Parts by 27.6% in the fourth quarter. Matrix Trust Co now owns 393 shares of the specialty retailer's stock valued at $48,000 after purchasing an additional 85 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Genuine Parts

In other news, insider James F. Howe sold 415 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total transaction of $43,296.95. Following the completion of the transaction, the insider directly owned 25,589 shares of the company's stock, valued at $2,669,700.37. This represents a 1.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GPC. Zacks Research raised Genuine Parts from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. DA Davidson initiated coverage on Genuine Parts in a report on Tuesday, June 16th. They set a "strong-buy" rating and a $145.00 target price on the stock. UBS Group reduced their price target on Genuine Parts from $135.00 to $125.00 and set a "neutral" rating for the company in a research report on Wednesday, April 22nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Genuine Parts in a report on Wednesday. Finally, Truist Financial lowered their price objective on Genuine Parts from $127.00 to $124.00 and set a "hold" rating on the stock in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of "Moderate Buy" and an average target price of $143.88.

Genuine Parts Trading Up 0.2%

GPC stock opened at $116.20 on Monday. The company's 50-day simple moving average is $103.27 and its 200-day simple moving average is $115.88. The company has a quick ratio of 0.48, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. Genuine Parts Company has a 52-week low of $90.78 and a 52-week high of $151.57. The firm has a market cap of $15.99 billion, a P/E ratio of 270.23 and a beta of 0.67.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.02. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.17 billion. Genuine Parts had a return on equity of 22.28% and a net margin of 0.24%.Genuine Parts's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 EPS. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. As a group, equities analysts forecast that Genuine Parts Company will post 7.69 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be given a $1.0625 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.7%. Genuine Parts's payout ratio is 988.37%.

About Genuine Parts

Genuine Parts Company NYSE: GPC is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.

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