Huntington National Bank Has $4.64 Million Position in Genuine Parts Company $GPC

Huntington National Bank reduced its position in shares of Genuine Parts Company (NYSE:GPC) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,282 shares of the specialty retailer’s stock after selling 515 shares during the quarter. Huntington National Bank’s holdings in Genuine Parts were worth $4,644,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Concord Wealth Partners raised its stake in Genuine Parts by 148.7% during 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 during the period. Hantz Financial Services Inc. increased its stake in shares of Genuine Parts by 7,825.0% in the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 313 shares during the last quarter. Cromwell Holdings LLC increased its stake in shares of Genuine Parts by 49.1% in the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 114 shares during the last quarter. Quaker Wealth Management LLC increased its stake in shares of Genuine Parts by 11,533.3% in the second quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 346 shares during the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Genuine Parts in the first quarter worth $45,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GPC shares. JPMorgan Chase & Co. lifted their price target on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Evercore ISI lifted their price target on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Truist Financial lifted their price target on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. UBS Group lifted their price target on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, Loop Capital lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Genuine Parts has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Insider Activity

In other news, EVP Naveen Krishna sold 5,303 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the sale, the executive vice president directly 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Genuine Parts Trading Down 0.7%

Genuine Parts stock opened at $122.69 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 21.12 and a beta of 0.77. Genuine Parts Company has a one year low of $104.01 and a one year high of $143.48. The company’s fifty day moving average price is $135.70 and its two-hundred day moving average price is $129.44.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, September 5th. Genuine Parts’s dividend payout ratio (DPR) is currently 70.91%.

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.