Genuine Parts (NYSE:GPC) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its position in shares of Genuine Parts (NYSE:GPC) by 266.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,007 shares of the specialty retailer’s stock after buying an additional 4,368 shares during the period. Edgestream Partners L.P.’s holdings in Genuine Parts were worth $831,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. WD Rutherford LLC acquired a new stake in shares of Genuine Parts during the first quarter worth $26,000. Assetmark Inc. boosted its stake in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the last quarter. Union Savings Bank grew its holdings in 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 buying an additional 100 shares during the period. Thompson Investment Management Inc. acquired a new position in shares of Genuine Parts during the 1st quarter valued at about $35,000. Finally, Stephens Consulting LLC lifted its holdings in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Down 1.5 %

Shares of GPC opened at $137.02 on Friday. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The stock’s 50-day moving average is $139.73 and its two-hundred day moving average is $145.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The stock has a market cap of $19.09 billion, a PE ratio of 15.28 and a beta of 0.90.

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

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analyst Ratings Changes

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

Genuine Parts Company 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.