LifeWealth Investments LLC Acquires New Shares in Genuine Parts Company $GPC

LifeWealth Investments LLC acquired a new stake in Genuine Parts Company (NYSE:GPC) in the 2nd quarter, Holdings Channel reports. The firm acquired 2,676 shares of the specialty retailer’s stock, valued at approximately $325,000.

Other hedge funds have also recently bought and sold shares of the company. Rossby Financial LCC purchased a new position in Genuine Parts in the 1st quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new position in Genuine Parts in the 1st quarter valued at approximately $27,000. North Capital Inc. purchased a new position in Genuine Parts in the 1st quarter valued at approximately $28,000. Concord Wealth Partners increased its stake in Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 177 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after buying an additional 318 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GPC shares. Loop Capital raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Truist Financial raised their price target on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group raised their price target on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. raised their price target on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday. One 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $133.30 on Friday. The company has a market cap of $18.54 billion, a P/E ratio of 22.94 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $143.48. The business has a fifty day simple moving average of $137.30 and a 200-day simple moving average of $128.23.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. Genuine Parts’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were given 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 dividend yield of 3.1%. Genuine Parts’s payout ratio is currently 70.91%.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Genuine Parts 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.