Great Lakes Retirement Inc. Purchases 1,117 Shares of Genuine Parts Company $GPC

Great Lakes Retirement Inc. increased its position in shares of Genuine Parts Company (NYSE:GPC) by 10.4% during the second quarter, HoldingsChannel.com reports. The fund owned 11,898 shares of the specialty retailer’s stock after acquiring an additional 1,117 shares during the period. Great Lakes Retirement Inc.’s holdings in Genuine Parts were worth $1,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rossby Financial LCC bought a new position in shares of Genuine Parts in the 1st quarter worth $25,000. Olde Wealth Management LLC bought a new position in shares of Genuine Parts in the 1st quarter worth $27,000. North Capital Inc. bought a new position in shares of Genuine Parts in the 1st quarter worth $28,000. Concord Wealth Partners increased its holdings in shares of Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after buying an additional 177 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Genuine Parts by 7,825.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after buying an additional 313 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GPC. Truist Financial increased their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. UBS Group increased their price target on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Evercore ISI increased their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Genuine Parts Price Performance

GPC stock opened at $127.32 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $143.48. The firm’s fifty day moving average is $136.34 and its 200 day moving average is $129.09. The firm has a market cap of $17.71 billion, a P/E ratio of 21.91 and a beta of 0.77.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the prior year, the business posted $1.88 EPS. Genuine Parts’s revenue for the quarter was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Research analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.2%. 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 stock in a transaction 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 owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.42% of the stock is owned by insiders.

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.