Genuine Parts (NYSE:GPC) Shares Bought by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. increased its position in Genuine Parts (NYSE:GPC) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 51,714 shares of the specialty retailer’s stock after acquiring an additional 195 shares during the period. GHP Investment Advisors Inc.’s holdings in Genuine Parts were worth $7,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GPC. Manchester Capital Management LLC raised its holdings in shares of Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares in the last quarter. North Star Investment Management Corp. raised its position in Genuine Parts by 8.5% during the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after acquiring an additional 70 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after acquiring an additional 75 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in shares of Genuine Parts by 1.8% during the 1st quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after purchasing an additional 80 shares in the last quarter. Finally, Dover Advisors LLC boosted its holdings in Genuine Parts by 5.1% in the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

NYSE GPC traded up $1.13 during trading on Friday, hitting $114.24. 2,138,120 shares of the company’s stock were exchanged, compared to its average volume of 1,074,868. The company has a current ratio of 1.17, a quick ratio of 0.54 and a debt-to-equity ratio of 0.81. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a market cap of $15.92 billion, a PE ratio of 14.71 and a beta of 0.90. The stock’s 50 day moving average price is $137.22 and its two-hundred day moving average price is $142.18.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same period in the previous year, the company posted $2.49 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts expect that Genuine Parts will post 8.1 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.50%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GPC shares. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday. Evercore ISI upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average target price of $139.57.

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.