Genuine Parts Company $GPC Shares Sold by Consolidated Planning Corp

Consolidated Planning Corp reduced its stake in Genuine Parts Company (NYSE:GPC) by 3.8% in the 2nd quarter, Holdings Channel reports. The firm owned 6,069 shares of the specialty retailer’s stock after selling 240 shares during the quarter. Consolidated Planning Corp’s holdings in Genuine Parts were worth $736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Rossby Financial LCC acquired a new position in shares of Genuine Parts in the first quarter worth about $25,000. Olde Wealth Management LLC acquired a new stake in Genuine Parts during the 1st quarter valued at approximately $27,000. North Capital Inc. acquired a new stake in Genuine Parts during the 1st quarter valued at approximately $28,000. Golden State Wealth Management LLC grew its stake in Genuine Parts by 7,950.0% during the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 318 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in Genuine Parts during the 1st quarter valued at approximately $45,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GPC shares. JPMorgan Chase & Co. raised their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. UBS Group raised their price objective on Genuine Parts from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Truist Financial lifted their price target on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Evercore ISI lifted their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Loop Capital lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Moderate Buy” and an average target price of $138.14.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $140.42 on Friday. 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 firm’s 50-day moving average price is $137.11 and its two-hundred day moving average price is $126.72. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.29. The stock has a market capitalization of $19.53 billion, a P/E ratio of 24.17 and a beta of 0.77.

Genuine Parts (NYSE:GPC) last issued its 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. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter last year, the company posted $2.44 earnings per share. Genuine Parts’s revenue was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, sell-side analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. Genuine Parts’s dividend payout ratio (DPR) is currently 70.91%.

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 value of $732,450.36. Following the transaction, the executive vice president owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is owned by corporate insiders.

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.