SteelPeak Wealth LLC Grows Stock Position in Genuine Parts Company $GPC

SteelPeak Wealth LLC lifted its position in Genuine Parts Company (NYSE:GPC) by 61.3% during the first quarter, HoldingsChannel.com reports. The fund owned 26,671 shares of the specialty retailer’s stock after acquiring an additional 10,141 shares during the period. SteelPeak Wealth LLC’s holdings in Genuine Parts were worth $2,848,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. United Asset Strategies Inc. boosted its stake in Genuine Parts by 1.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,492 shares of the specialty retailer’s stock worth $552,000 after purchasing an additional 72 shares during the last quarter. J2 Capital Management Inc raised its position in shares of Genuine Parts by 1.9% in the fourth quarter. J2 Capital Management Inc now owns 4,136 shares of the specialty retailer’s stock valued at $509,000 after buying an additional 79 shares during the last quarter. Capital Investment Advisors LLC raised its position in shares of Genuine Parts by 0.6% in the fourth quarter. Capital Investment Advisors LLC now owns 14,173 shares of the specialty retailer’s stock valued at $1,743,000 after buying an additional 83 shares during the last quarter. IHT Wealth Management LLC lifted its stake in shares of Genuine Parts by 1.8% in the fourth quarter. IHT Wealth Management LLC now owns 4,644 shares of the specialty retailer’s stock worth $571,000 after buying an additional 83 shares in the last quarter. Finally, Matrix Trust Co lifted its stake in shares of Genuine Parts by 27.6% in the fourth quarter. Matrix Trust Co now owns 393 shares of the specialty retailer’s stock worth $48,000 after buying an additional 85 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider James F. Howe sold 415 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total value of $43,296.95. Following the transaction, the insider directly owned 25,589 shares in the company, valued at approximately $2,669,700.37. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GPC. DA Davidson upped their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a research note on Wednesday, June 24th. UBS Group lowered their target price on Genuine Parts from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Zacks Research upgraded Genuine Parts from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Truist Financial cut their price target on Genuine Parts from $127.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Genuine Parts Trading Down 0.7%

Shares of GPC opened at $124.83 on Friday. Genuine Parts Company has a 12-month low of $90.78 and a 12-month high of $151.57. The firm has a market capitalization of $17.18 billion, a P/E ratio of 290.31 and a beta of 0.63. The firm has a 50-day moving average price of $108.16 and a 200 day moving average price of $115.63. The company has a current ratio of 1.09, a quick ratio of 0.48 and a debt-to-equity ratio of 0.77.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.02. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.17 billion. Genuine Parts had a net margin of 0.24% and a return on equity of 22.28%. Genuine Parts’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 earnings per share. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. Sell-side analysts forecast that Genuine Parts Company will post 7.69 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th were given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, June 5th. Genuine Parts’s payout ratio is presently 988.37%.

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.