Genuine Parts (NYSE:GPC) Shares Acquired by Marco Investment Management LLC

Marco Investment Management LLC boosted its position in Genuine Parts (NYSE:GPC) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,904 shares of the specialty retailer’s stock after purchasing an additional 91 shares during the period. Marco Investment Management LLC’s holdings in Genuine Parts were worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. raised its stake in shares of Genuine Parts by 4.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after buying an additional 75 shares in the last quarter. Dover Advisors LLC lifted 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 valued at $243,000 after acquiring an additional 85 shares during the period. Metis Global Partners LLC lifted its holdings in Genuine Parts by 1.9% in the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after acquiring an additional 85 shares during the period. Blackhawk Capital Partners LLC. boosted its position in shares of Genuine Parts by 1.3% during the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock worth $940,000 after purchasing an additional 86 shares in the last quarter. Finally, Guardian Wealth Advisors LLC grew its stake in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on GPC shares. The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Wedbush lowered their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. UBS Group reduced their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Trading Up 1.7 %

Shares of Genuine Parts stock opened at $124.80 on Friday. The business has a 50 day moving average price of $129.44 and a 200 day moving average price of $137.26. The company has a market capitalization of $17.35 billion, a P/E ratio of 16.06 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $2.49 earnings per share. Sell-side analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.21%. Genuine Parts’s dividend payout ratio is currently 51.48%.

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.