LongView Wealth Management Trims Stock Holdings in Genuine Parts Company $GPC

LongView Wealth Management trimmed its holdings in shares of Genuine Parts Company (NYSE:GPC) by 28.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 60,323 shares of the specialty retailer’s stock after selling 23,431 shares during the quarter. Genuine Parts makes up 2.3% of LongView Wealth Management’s holdings, making the stock its 8th biggest holding. LongView Wealth Management’s holdings in Genuine Parts were worth $8,361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its stake in Genuine Parts by 8,833.3% during the second 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 during the last quarter. Concord Wealth Partners boosted 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 purchasing an additional 177 shares during the period. Hantz Financial Services Inc. increased its position in shares of Genuine Parts by 7,825.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 313 shares during the last quarter. Quaker Wealth Management LLC raised its holdings in Genuine Parts by 11,533.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 346 shares during the period. Finally, Cromwell Holdings LLC lifted its position in Genuine Parts by 49.1% in the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GPC. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research report on Wednesday. Truist Financial upped their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $130.00 to $142.00 in a research report on Thursday, November 13th. Evercore ISI boosted their target price on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, UBS Group upped their target price on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. One 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Genuine Parts Stock Down 0.3%

Shares of NYSE GPC opened at $125.49 on Monday. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $143.48. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 21.60 and a beta of 0.74. The stock has a 50 day moving average price of $129.05 and a 200 day moving average price of $130.86. 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 (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share 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 firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The business’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. Sell-side analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm 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 dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 5th. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

Insider Buying and Selling

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction on Friday, September 26th. The stock was 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 in the company, valued at $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by company insiders.

Genuine Parts Company Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.