Synergy Asset Management LLC Makes New Investment in Genuine Parts Company $GPC

Key Points

• Synergy Asset Management LLC has made a significant new investment in Genuine Parts Company, acquiring 28,984 shares valued at approximately $3.5 million during the second quarter.
• Genuine Parts Company reported quarterly earnings of $2.10 per share, beating analyst expectations, while also announcing a quarterly dividend of $1.03 per share with a yield of 2.9%.
• Several analysts have raised their target prices for Genuine Parts, with Loop Capital increasing their target from $155 to $160, reflecting strong confidence in the company's performance despite economic uncertainties.

Synergy Asset Management LLC purchased a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,984 shares of the specialty retailer's stock, valued at approximately $3,516,000.

Other large investors also recently made changes to their positions in the company. Rossby Financial LCC purchased a new position in shares of Genuine Parts during the 1st quarter worth $25,000. Olde Wealth Management LLC purchased a new position in shares of Genuine Parts during the 1st quarter worth $27,000. North Capital Inc. purchased a new position in shares of Genuine Parts in the 1st quarter worth $28,000. Golden State Wealth Management LLC raised its position in shares of Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock worth $38,000 after buying an additional 318 shares during the period. Finally, Cromwell Holdings LLC raised its position in shares of Genuine Parts by 49.1% in the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer's stock worth $42,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Up 1.6%

NYSE:GPC opened at $140.42 on Friday. The business's 50-day moving average is $137.11 and its two-hundred day moving average is $126.72. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.29. The firm has a market capitalization of $19.53 billion, a PE ratio of 24.17 and a beta of 0.77.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period last year, the company posted $2.44 earnings per share. The firm's revenue 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. Research analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GPC shares. Loop Capital increased their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Truist Financial increased their target price on 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 increased their target price on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI increased their target price on Genuine Parts from $148.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $138.14.

Insider Buying and Selling at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 26,112 shares in the company, valued at $3,606,589.44. This trade represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

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.

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