Agate Pass Investment Management LLC Lowers Stake in Genuine Parts Company $GPC

Agate Pass Investment Management LLC lowered its stake in shares of Genuine Parts Company (NYSE:GPC) by 1.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,188 shares of the specialty retailer’s stock after selling 275 shares during the period. Agate Pass Investment Management LLC’s holdings in Genuine Parts were worth $1,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Inspire Investing LLC grew its holdings in shares of Genuine Parts by 11.9% during the 1st quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock valued at $1,995,000 after purchasing an additional 1,777 shares during the last quarter. Cornerstone Wealth Group LLC bought a new position in shares of Genuine Parts during the 1st quarter valued at $3,344,000. Revisor Wealth Management LLC grew its holdings in shares of Genuine Parts by 75.2% during the 2nd quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock valued at $853,000 after purchasing an additional 2,910 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Genuine Parts by 11.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,430 shares of the specialty retailer’s stock valued at $2,657,000 after purchasing an additional 2,290 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Genuine Parts by 276.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock valued at $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday. UBS Group increased their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday. Loop Capital increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Truist Financial raised their price target 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. One investment 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $138.86.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $130.34 on Friday. The firm has a market cap of $18.13 billion, a PE ratio of 22.43 and a beta of 0.77. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. 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’s fifty day simple moving average is $137.52 and its two-hundred day simple moving average is $127.29.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. The business had revenue of $6.16 billion for 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%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, equities analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.2%. Genuine Parts’s payout ratio is presently 70.91%.

Insider Buying and Selling at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $138.12, for a total transaction of $732,450.36. Following the sale, the executive vice president owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. The trade was a 16.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

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.