TrueMark Investments LLC Grows Position in Genuine Parts Company $GPC

Key Points

• TrueMark Investments LLC increased its stake in Genuine Parts Company by 8.7% in the second quarter, owning 26,147 shares valued at $3,172,000.
• Genuine Parts reported $2.10 earnings per share for the last quarter, beating estimates by $0.02, with revenue also surpassing expectations at $6.16 billion.
• The company announced a quarterly dividend of $1.03 per share, resulting in a 3.1% yield, while its payout ratio stands at 70.91%.

TrueMark Investments LLC lifted its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,147 shares of the specialty retailer's stock after buying an additional 2,100 shares during the quarter. TrueMark Investments LLC's holdings in Genuine Parts were worth $3,172,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Diversified Trust Co grew its position in shares of Genuine Parts by 1.8% in the 2nd quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer's stock worth $562,000 after acquiring an additional 83 shares in the last quarter. Brown Lisle Cummings Inc. grew its position in shares of Genuine Parts by 5.7% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer's stock worth $187,000 after acquiring an additional 83 shares in the last quarter. Oak Asset Management LLC grew its position in shares of Genuine Parts by 0.6% in the 2nd quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer's stock worth $1,633,000 after acquiring an additional 85 shares in the last quarter. Horizon Investments LLC grew its position in shares of Genuine Parts by 4.8% in the 1st quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock worth $238,000 after acquiring an additional 91 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its position in shares of Genuine Parts by 2.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock worth $402,000 after acquiring an additional 93 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.4%

Shares of Genuine Parts stock opened at $133.25 on Friday. The business's fifty day moving average price is $137.54 and its two-hundred day moving average price is $127.83. 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 company has a market capitalization of $18.53 billion, a P/E ratio of 22.93 and a beta of 0.77. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.29.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.1%. Genuine Parts's payout ratio is presently 70.91%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial lifted 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. Evercore ISI lifted 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, October 1st. Weiss Ratings restated a "hold (c)" rating on shares of Genuine Parts in a research report on Wednesday, October 8th. UBS Group boosted their price objective 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, Loop Capital boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $138.86.

Insiders Place Their Bets

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the sale, the executive vice president owned 26,112 shares of the company's stock, valued at $3,606,589.44. The trade was a 16.88% decrease in their position. 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 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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