Oppenheimer Asset Management Inc. Sells 285 Shares of Genuine Parts Company $GPC

Oppenheimer Asset Management Inc. reduced its position in Genuine Parts Company (NYSE:GPC) by 0.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,077 shares of the specialty retailer’s stock after selling 285 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.11% of Genuine Parts worth $18,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rossby Financial LCC bought a new position in shares of Genuine Parts in the first quarter worth approximately $25,000. Olde Wealth Management LLC bought a new position in shares of Genuine Parts in the first quarter worth approximately $27,000. North Capital Inc. bought a new position in shares of Genuine Parts in the first quarter worth approximately $28,000. Concord Wealth Partners grew its position in Genuine Parts by 148.7% in the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after acquiring an additional 177 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its position in Genuine Parts by 7,950.0% in the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the firm’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 transaction, the executive vice president owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a research report on Saturday. UBS Group boosted their target price on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Truist Financial boosted their target price on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday. Evercore ISI boosted their target price on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, Loop Capital lifted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Genuine Parts Trading Down 1.8%

GPC opened at $130.93 on Friday. The business has a 50 day simple moving average of $137.16 and a two-hundred day simple moving average of $128.57. The firm has a market capitalization of $18.21 billion, a price-to-earnings ratio of 22.53 and a beta of 0.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a one year low of $104.01 and a one year high of $143.48.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter last year, the company posted $1.88 earnings per share. The firm’s revenue for the quarter 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. Analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.1%. Genuine Parts’s dividend payout ratio is currently 70.91%.

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.