WD Rutherford LLC Acquires Shares of 413 Genuine Parts Company $GPC

WD Rutherford LLC acquired a new stake in Genuine Parts Company (NYSE:GPC) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 413 shares of the specialty retailer’s stock, valued at approximately $50,000.

A number of other large investors have also recently modified their holdings of GPC. Goldman Sachs Group Inc. increased its position in shares of Genuine Parts by 276.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock valued at $399,449,000 after buying an additional 2,461,497 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Genuine Parts by 377.3% during the second quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer’s stock valued at $113,233,000 after buying an additional 737,836 shares during the period. JPMorgan Chase & Co. increased its position in shares of Genuine Parts by 22.1% during the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock valued at $327,974,000 after buying an additional 498,469 shares during the period. GAMMA Investing LLC increased its position in shares of Genuine Parts by 20,194.9% during the first quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer’s stock valued at $56,749,000 after buying an additional 473,975 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Genuine Parts during the first quarter valued at about $41,646,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Truist Financial boosted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Loop Capital boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Evercore ISI boosted their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 26th. Finally, UBS Group boosted their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Genuine Parts Trading Up 1.1%

NYSE:GPC opened at $137.80 on Friday. The company’s 50-day simple moving average is $136.48 and its 200 day simple moving average is $126.27. The firm has a market capitalization of $19.17 billion, a P/E ratio of 23.72 and a beta of 0.75. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.29. 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 (NYSE:GPC) last issued its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping 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 net margin of 3.40% and a return on equity of 22.41%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

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. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts’s dividend payout ratio is currently 70.91%.

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.