JPMorgan Chase & Co. Sells 217,747 Shares of Genuine Parts Company $GPC

JPMorgan Chase & Co. reduced its holdings in shares of Genuine Parts Company (NYSE:GPC) by 8.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,237,408 shares of the specialty retailer’s stock after selling 217,747 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.61% of Genuine Parts worth $310,105,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Genuine Parts by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,309,178 shares of the specialty retailer’s stock valued at $2,099,776,000 after purchasing an additional 260,787 shares during the last quarter. State Street Corp raised its position in shares of Genuine Parts by 0.9% in the second quarter. State Street Corp now owns 7,797,180 shares of the specialty retailer’s stock valued at $953,779,000 after purchasing an additional 73,361 shares during the period. Geode Capital Management LLC raised its position in shares of Genuine Parts by 1.2% in the second quarter. Geode Capital Management LLC now owns 3,511,008 shares of the specialty retailer’s stock valued at $424,367,000 after purchasing an additional 40,970 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Genuine Parts by 2.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,080,251 shares of the specialty retailer’s stock worth $373,425,000 after buying an additional 70,668 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Genuine Parts during the 2nd quarter worth about $211,661,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Trading Down 1.3%

GPC opened at $119.28 on Friday. The stock has a market capitalization of $16.59 billion, a price-to-earnings ratio of 259.30 and a beta of 0.74. The company has a quick ratio of 0.51, a current ratio of 1.08 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $151.57. The company has a 50-day simple moving average of $133.23 and a 200 day simple moving average of $133.46.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 17th. The specialty retailer reported $1.55 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.24). Genuine Parts had a net margin of 0.27% and a return on equity of 22.28%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. Genuine Parts’s quarterly revenue was up 4.1% compared to the same quarter last year. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. Analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 6th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.03. Genuine Parts’s dividend payout ratio (DPR) is 70.91%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GPC. JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Evercore set a $175.00 target price on Genuine Parts in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, December 29th. UBS Group reduced their price target on Genuine Parts from $150.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Truist Financial set a $127.00 price objective on Genuine Parts and gave the company a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and a consensus target price of $148.17.

About Genuine Parts

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.