TIAA Trust National Association Sells 944 Shares of Genuine Parts Company $GPC

TIAA Trust National Association cut its stake in Genuine Parts Company (NYSE:GPC) by 30.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,173 shares of the specialty retailer’s stock after selling 944 shares during the quarter. TIAA Trust National Association’s holdings in Genuine Parts were worth $264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GPC. Avidian Wealth Enterprises LLC increased its position in shares of Genuine Parts by 3.3% during the second quarter. Avidian Wealth Enterprises LLC now owns 2,577 shares of the specialty retailer’s stock valued at $313,000 after buying an additional 82 shares during the period. Diversified Trust Co boosted its position in Genuine Parts by 1.8% during the 2nd quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock valued at $562,000 after acquiring an additional 83 shares in the last quarter. Brown Lisle Cummings Inc. boosted its position in Genuine Parts by 5.7% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer’s stock valued at $187,000 after acquiring an additional 83 shares in the last quarter. Oak Asset Management LLC grew its holdings in shares of Genuine Parts by 0.6% during the 2nd quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer’s stock worth $1,633,000 after acquiring an additional 85 shares during the period. Finally, Horizon Investments LLC raised its position in shares of Genuine Parts by 4.8% in the 1st quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer’s stock worth $238,000 after acquiring an additional 91 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GPC shares. Truist Financial upped their price target on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. boosted their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Evercore ISI lifted their price target on shares of 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 boosted their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Genuine Parts has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Genuine Parts Stock Performance

Shares of GPC stock opened at $124.37 on Thursday. Genuine Parts Company has a one year low of $104.01 and a one year high of $143.48. The company’s 50-day moving average is $135.39 and its 200 day moving average is $129.40. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 21.41 and a beta of 0.75. 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 issued its earnings results 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 firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.88 earnings per share. 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 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors 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 yield of 3.3%. Genuine Parts’s dividend payout ratio is 70.91%.

Insider Buying and Selling

In other Genuine Parts 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 approximately $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

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.