TIAA Trust National Association Sells 944 Shares of Genuine Parts Company $GPC

TIAA Trust National Association decreased its holdings in Genuine Parts Company (NYSE:GPC) by 30.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,173 shares of the specialty retailer’s stock after selling 944 shares during the period. TIAA Trust National Association’s holdings in Genuine Parts were worth $264,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GPC. Concord Wealth Partners grew its stake in Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 177 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Genuine Parts by 7,825.0% in the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 313 shares during the period. Quaker Wealth Management LLC grew its position in shares of Genuine Parts by 11,533.3% in the second quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 346 shares in the last quarter. Cromwell Holdings LLC raised its stake in shares of Genuine Parts by 49.1% during the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 114 shares during the period. Finally, WPG Advisers LLC bought a new stake in shares of Genuine Parts during the 1st quarter valued at $45,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the transaction, the executive vice president owned 26,112 shares in the company, valued at $3,606,589.44. The trade was a 16.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by insiders.

Genuine Parts Stock Performance

NYSE:GPC opened at $124.37 on Thursday. 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 fifty-two week low of $104.01 and a fifty-two week high of $143.48. The firm has a market cap of $17.30 billion, a PE ratio of 21.41 and a beta of 0.75. The business has a 50 day moving average price of $135.39 and a 200-day moving average price of $129.40.

Genuine Parts (NYSE:GPC) last issued 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). The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, September 5th. Genuine Parts’s dividend payout ratio is currently 70.91%.

Analysts Set New Price Targets

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their target price on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. UBS Group raised their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Loop Capital upped their target price 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. Evercore ISI upped their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, Truist Financial increased their price objective on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

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.