Genuine Parts Company $GPC Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its stake in Genuine Parts Company by 2.6%, owning 118,059 shares valued at approximately $14.32 million.
• The company reported $2.10 earnings per share for the previous quarter, surpassing analysts' estimates and showing a 3.4% increase in quarterly revenue year-over-year.
• Genuine Parts recently announced a quarterly dividend of $1.03 per share, yielding an annualized rate of 3.0%, with a payout ratio of 70.91%.

Swedbank AB increased its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,059 shares of the specialty retailer's stock after acquiring an additional 3,019 shares during the period. Swedbank AB owned approximately 0.09% of Genuine Parts worth $14,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GPC. Focus Financial Network Inc. increased its holdings in shares of Genuine Parts by 3.6% during the second quarter. Focus Financial Network Inc. now owns 3,031 shares of the specialty retailer's stock valued at $371,000 after acquiring an additional 104 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in Genuine Parts during the second quarter valued at $315,000. StrongBox Wealth LLC lifted its holdings in Genuine Parts by 25.7% in the second quarter. StrongBox Wealth LLC now owns 2,399 shares of the specialty retailer's stock valued at $291,000 after acquiring an additional 490 shares during the period. Berkshire Bank boosted its position in Genuine Parts by 11.7% in the second quarter. Berkshire Bank now owns 2,845 shares of the specialty retailer's stock worth $345,000 after purchasing an additional 298 shares during the last quarter. Finally, Czech National Bank grew its stake in shares of Genuine Parts by 6.2% during the 2nd quarter. Czech National Bank now owns 33,925 shares of the specialty retailer's stock valued at $4,115,000 after purchasing an additional 1,991 shares during the period. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GPC. Truist Financial increased their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. UBS Group raised their target price on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Loop Capital upped their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Evercore ISI raised their price objective on Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

Genuine Parts Stock Performance

GPC stock traded up $0.23 during trading on Tuesday, reaching $138.19. The company had a trading volume of 561,058 shares, compared to its average volume of 1,387,230. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The firm has a 50-day simple moving average of $135.28 and a 200-day simple moving average of $125.91. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.29. The company has a market cap of $19.22 billion, a price-to-earnings ratio of 23.79 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, topping analysts' consensus estimates of $2.08 by $0.02. The company had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The firm's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, sell-side analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. 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.