Genuine Parts Company $GPC Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its holdings in shares of Genuine Parts Company (NYSE:GPC) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,190 shares of the specialty retailer’s stock after selling 1,768 shares during the period. Marks Group Wealth Management Inc’s holdings in Genuine Parts were worth $1,600,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NBC Securities Inc. grew its holdings in Genuine Parts by 172,400.0% during the 1st quarter. NBC Securities Inc. now owns 1,725 shares of the specialty retailer’s stock valued at $205,000 after buying an additional 1,724 shares during the last quarter. Merit Financial Group LLC boosted its stake in shares of Genuine Parts by 59.3% during the first quarter. Merit Financial Group LLC now owns 6,160 shares of the specialty retailer’s stock valued at $734,000 after acquiring an additional 2,293 shares during the last quarter. Park Avenue Securities LLC increased its position in Genuine Parts by 3.0% during the 1st quarter. Park Avenue Securities LLC now owns 6,140 shares of the specialty retailer’s stock worth $732,000 after purchasing an additional 179 shares in the last quarter. Capital Investment Advisors LLC raised its stake in Genuine Parts by 4.1% in the 1st quarter. Capital Investment Advisors LLC now owns 17,078 shares of the specialty retailer’s stock valued at $2,035,000 after purchasing an additional 672 shares during the last quarter. Finally, Outlook Wealth Advisors LLC purchased a new position in Genuine Parts in the 1st quarter valued at about $464,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Down 0.8%

GPC stock opened at $138.56 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The company has a market cap of $19.27 billion, a price-to-earnings ratio of 23.85 and a beta of 0.77. The business has a fifty day simple moving average of $137.34 and a 200-day simple moving average of $127.02. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. The firm had revenue of $6.16 billion during 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 quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, equities research analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were issued a $1.03 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

Insiders Place Their Bets

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the business’s 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 sale, the executive vice president directly owned 26,112 shares in the company, valued at $3,606,589.44. The trade was a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Loop Capital lifted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Truist Financial raised their target price on shares of 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 boosted their price target on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price objective on Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $138.14.

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.