Genuine Parts Company $GPC Shares Bought by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC grew its position in shares of Genuine Parts Company (NYSE:GPC) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,577 shares of the specialty retailer’s stock after acquiring an additional 82 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Genuine Parts were worth $313,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Inspire Investing LLC lifted its holdings in Genuine Parts by 11.9% in the first quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock worth $1,995,000 after purchasing an additional 1,777 shares during the period. Revisor Wealth Management LLC lifted its holdings in Genuine Parts by 75.2% in the second quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock worth $853,000 after purchasing an additional 2,910 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Genuine Parts by 11.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,430 shares of the specialty retailer’s stock worth $2,657,000 after purchasing an additional 2,290 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Genuine Parts by 276.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after purchasing an additional 2,461,497 shares during the period. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts in the second quarter worth about $3,516,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. Loop Capital upped their price objective 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. UBS Group upped their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, 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 report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Insiders Place Their Bets

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts 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 of the company’s stock, valued at $3,606,589.44. The trade was a 16.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $132.73 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average price is $137.39 and its two-hundred day moving average price is $128.07. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $143.48. The stock has a market cap of $18.46 billion, a PE ratio of 22.84 and a beta of 0.77.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.04). The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. Genuine Parts had a return on equity of 22.94% and a net margin of 3.36%.Genuine Parts’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, sell-side analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal 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 paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, September 5th. Genuine Parts’s payout ratio is 70.91%.

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.