Fifth Third Bancorp Has $2.07 Million Stake in Genuine Parts Company $GPC

Fifth Third Bancorp raised its position in Genuine Parts Company (NYSE:GPC) by 9.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 17,076 shares of the specialty retailer’s stock after purchasing an additional 1,448 shares during the period. Fifth Third Bancorp’s holdings in Genuine Parts were worth $2,071,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversified Trust Co lifted 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 purchasing an additional 83 shares during the period. Oak Asset Management LLC lifted 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 purchasing an additional 85 shares during the period. Horizon Investments LLC increased its stake 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 valued at $238,000 after acquiring an additional 91 shares in the last quarter. Pinnacle Associates Ltd. increased its stake 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 valued at $402,000 after acquiring an additional 93 shares in the last quarter. Finally, Truvestments Capital LLC increased its stake in shares of Genuine Parts by 11.9% in the 1st quarter. Truvestments Capital LLC now owns 895 shares of the specialty retailer’s stock valued at $107,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC stock opened at $137.80 on Friday. The firm has a market capitalization of $19.17 billion, a PE ratio of 23.72 and a beta of 0.75. The firm has a fifty day simple moving average of $136.48 and a two-hundred day simple moving average of $126.27. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.29.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. Genuine Parts’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be paid a $1.03 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. Genuine Parts’s dividend payout ratio is presently 70.91%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the company an “outperform” rating in a research note on Tuesday, August 26th. Truist Financial lifted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. 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 note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Loop Capital lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.