Genuine Parts (NYSE:GPC) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its position in shares of Genuine Parts (NYSE:GPC) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,715 shares of the specialty retailer’s stock after purchasing an additional 554 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Genuine Parts were worth $6,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. Assetmark Inc. grew its stake in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares in the last quarter. WD Rutherford LLC purchased a new stake in Genuine Parts during the 1st quarter worth approximately $26,000. Union Savings Bank raised its position in shares of Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in shares of Genuine Parts during the 1st quarter valued at approximately $35,000. Finally, Stephens Consulting LLC grew its position in shares of Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GPC. Wedbush cut their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Evercore ISI reduced their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. Truist Financial restated a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday, August 28th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Finally, The Goldman Sachs Group lowered their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Down 0.1 %

NYSE:GPC opened at $137.28 on Wednesday. The firm has a market capitalization of $19.12 billion, a PE ratio of 15.30 and a beta of 0.90. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $139.47 and a 200-day moving average of $145.59.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the prior year, the business earned $2.44 earnings per share. Genuine Parts’s quarterly revenue was up .8% on a year-over-year basis. Analysts predict that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

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.