Police & Firemen s Retirement System of New Jersey Grows Holdings in Genuine Parts Company $GPC

Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Genuine Parts Company (NYSE:GPC) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,052 shares of the specialty retailer’s stock after buying an additional 898 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Genuine Parts were worth $2,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its position in shares of Genuine Parts by 8,833.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock worth $33,000 after acquiring an additional 265 shares in the last quarter. Concord Wealth Partners lifted its stake in Genuine Parts by 148.7% during the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 177 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in 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 purchasing an additional 313 shares during the period. Cromwell Holdings LLC increased its stake in Genuine Parts by 49.1% during the second 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 last quarter. Finally, Quaker Wealth Management LLC raised its holdings in shares of Genuine Parts by 11,533.3% during the second quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 346 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

GPC opened at $126.28 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $133.17 and its 200-day moving average is $130.11. The stock has a market cap of $17.57 billion, a PE ratio of 21.74 and a beta of 0.75. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $143.48.

Genuine Parts (NYSE:GPC) last posted 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 during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the prior year, the business earned $1.88 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 5th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $4.12 annualized dividend and a yield of 3.3%. Genuine Parts’s dividend payout ratio is presently 70.91%.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Truist Financial lifted their target price on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. UBS Group upped their target price on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Loop Capital raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $130.00 to $142.00 in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.00.

Insider Transactions at Genuine Parts

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

Genuine Parts Company 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.