Insider Selling: Genuine Parts (NYSE:GPC) EVP Sells 5,303 Shares of Stock

Key Points

• Genuine Parts Company EVP Naveen Krishna sold 5,303 shares at an average price of $138.12, resulting in a total transaction value of $732,450.36, which decreased his ownership in the company by 16.88%.
• The company reported a quarterly earnings of $2.10 EPS, exceeding analysts' expectations, with revenue rising to $6.16 billion for the period.
• Genuine Parts has announced a quarterly dividend of $1.03 per share, translating to an annualized dividend yield of 3.0% and a payout ratio of 70.91%.

Genuine Parts Company (NYSE:GPC - Get Free Report) EVP Naveen Krishna sold 5,303 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $138.12, for a total transaction of $732,450.36. Following the completion of the transaction, the executive vice president owned 26,112 shares in the company, valued at $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Genuine Parts Trading Up 1.1%

GPC traded up $1.57 during mid-day trading on Monday, hitting $139.26. The stock had a trading volume of 1,220,384 shares, compared to its average volume of 1,383,370. The stock's fifty day simple moving average is $136.48 and its 200-day simple moving average is $126.31. 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 firm has a market capitalization of $19.37 billion, a price-to-earnings ratio of 23.97 and a beta of 0.75. 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 issued its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period last year, the business posted $2.44 earnings per share. The firm's quarterly revenue was up 3.4% on a year-over-year basis. 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 fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is presently 70.91%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GPC. Rossby Financial LCC bought a new position in Genuine Parts during the first quarter worth $25,000. Olde Wealth Management LLC acquired a new position in Genuine Parts during the first quarter worth $27,000. North Capital Inc. acquired a new position in Genuine Parts during the first quarter worth $28,000. Golden State Wealth Management LLC raised its holdings in Genuine Parts by 8,833.3% during the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer's stock worth $33,000 after buying an additional 265 shares during the last quarter. Finally, Investors Research Corp raised its holdings in Genuine Parts by 75.3% during the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after buying an additional 125 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Loop Capital raised their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. UBS Group lifted their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Truist Financial lifted their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Evercore ISI lifted their target price on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

Genuine Parts Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.