Forza Wealth Management LLC Purchases 176 Shares of Genuine Parts Company $GPC

Forza Wealth Management LLC grew its position in Genuine Parts Company (NYSE:GPC) by 3.6% during the second quarter, HoldingsChannel.com reports. The firm owned 5,053 shares of the specialty retailer’s stock after buying an additional 176 shares during the quarter. Forza Wealth Management LLC’s holdings in Genuine Parts were worth $613,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Diversified Trust Co grew its position in shares of Genuine Parts by 1.8% in the second quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock valued at $562,000 after purchasing an additional 83 shares during the last quarter. Brown Lisle Cummings Inc. grew its position in shares of Genuine Parts by 5.7% in the second quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer’s stock valued at $187,000 after purchasing an additional 83 shares during the last quarter. Oak Asset Management LLC grew its position in shares of Genuine Parts by 0.6% in the second quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer’s stock valued at $1,633,000 after purchasing an additional 85 shares during the last quarter. Horizon Investments LLC grew its position in shares of Genuine Parts by 4.8% in the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer’s stock valued at $238,000 after purchasing an additional 91 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its position in shares of Genuine Parts by 2.8% in the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer’s stock valued at $402,000 after purchasing an additional 93 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 0.5%

NYSE GPC opened at $138.58 on Wednesday. The business has a fifty day moving average price of $136.89 and a two-hundred day moving average price of $126.52. 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 fifty-two week low of $104.01 and a fifty-two week high of $144.29. The stock has a market capitalization of $19.28 billion, a PE ratio of 23.85 and a beta of 0.75.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping 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 firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The company’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. Equities analysts expect 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 will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts’s dividend payout ratio is presently 70.91%.

Insiders Place Their Bets

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the company’s 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 completion of the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GPC. Loop Capital upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Evercore ISI upped their target price on Genuine Parts from $145.00 to $148.00 and gave the company an “outperform” rating in a research report on Tuesday, August 26th. Truist Financial upped their target price on Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price target 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, UBS Group increased their price target on Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Genuine Parts currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.86.

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.