Sumitomo Mitsui Trust Group Inc. Sells 11,344 Shares of Genuine Parts Company $GPC

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Genuine Parts Company (NYSE:GPC) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,776 shares of the specialty retailer’s stock after selling 11,344 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of Genuine Parts worth $54,300,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Genuine Parts by 1.5% in 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 period. State Street Corp grew its holdings in shares of Genuine Parts by 0.9% during the second quarter. State Street Corp now owns 7,797,180 shares of the specialty retailer’s stock worth $953,779,000 after buying an additional 73,361 shares in the last quarter. Geode Capital Management LLC raised its position in Genuine Parts by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,511,008 shares of the specialty retailer’s stock valued at $424,367,000 after buying an additional 40,970 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Genuine Parts by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,080,251 shares of the specialty retailer’s stock valued at $373,425,000 after acquiring an additional 70,668 shares in the last quarter. Finally, Norges Bank acquired a new position in Genuine Parts during the 2nd quarter worth approximately $211,661,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Up 1.5%

Shares of NYSE:GPC opened at $135.86 on Friday. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $143.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The company has a market capitalization of $18.90 billion, a P/E ratio of 23.38 and a beta of 0.75. The company has a 50-day simple moving average of $127.62 and a 200 day simple moving average of $131.36.

Genuine Parts (NYSE:GPC) last released 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). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the company earned $1.88 EPS. Genuine Parts’s quarterly revenue was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Sell-side analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Friday, December 5th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. Genuine Parts’s dividend payout ratio is presently 70.91%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GPC shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. Truist Financial lifted their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Evercore ISI lifted their target price on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and increased their price target for the company from $130.00 to $142.00 in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Genuine Parts Company Profile

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.