Ellsworth Advisors LLC Boosts Stake in Genuine Parts Company $GPC

Ellsworth Advisors LLC raised its position in shares of Genuine Parts Company (NYSE:GPC) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,673 shares of the specialty retailer’s stock after acquiring an additional 993 shares during the period. Genuine Parts makes up 1.4% of Ellsworth Advisors LLC’s portfolio, making the stock its 24th biggest position. Ellsworth Advisors LLC’s holdings in Genuine Parts were worth $5,322,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its position in Genuine Parts by 8.6% during the first quarter. Jacobi Capital Management LLC now owns 12,388 shares of the specialty retailer’s stock valued at $1,476,000 after acquiring an additional 984 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Genuine Parts by 19.2% during the first quarter. Geneos Wealth Management Inc. now owns 3,806 shares of the specialty retailer’s stock worth $453,000 after purchasing an additional 614 shares in the last quarter. Integrity Alliance LLC. acquired a new position in shares of Genuine Parts during the first quarter worth about $499,000. Ransom Advisory Ltd acquired a new position in shares of Genuine Parts during the first quarter worth about $93,000. Finally, SCS Capital Management LLC acquired a new position in shares of Genuine Parts during the first quarter worth about $201,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GPC. Evercore ISI boosted their price objective on Genuine Parts from $145.00 to $148.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. boosted their price objective on Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. UBS Group boosted their price objective on Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Loop Capital boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Truist Financial boosted their price objective on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.86.

Genuine Parts Trading Up 0.4%

Shares of NYSE GPC opened at $139.47 on Thursday. The stock’s 50 day moving average price is $133.12 and its two-hundred day moving average price is $125.03. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.29. The stock has a market capitalization of $19.40 billion, a P/E ratio of 24.00 and a beta of 0.75. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Genuine Parts’s revenue for the quarter was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts’s dividend payout ratio is presently 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.