AE Wealth Management LLC Grows Position in Genuine Parts (NYSE:GPC)

AE Wealth Management LLC lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 23.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,396 shares of the specialty retailer’s stock after purchasing an additional 4,672 shares during the period. AE Wealth Management LLC’s holdings in Genuine Parts were worth $3,374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp raised its holdings in Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares during the period. Wulff Hansen & CO. boosted its stake in Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after buying an additional 1,555,149 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Genuine Parts by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after acquiring an additional 239,858 shares during the last quarter. Morningstar Investment Services LLC raised its stake in shares of Genuine Parts by 161.2% during the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after acquiring an additional 357,091 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Genuine Parts by 0.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 545,249 shares of the specialty retailer’s stock worth $75,517,000 after purchasing an additional 4,436 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 1.5 %

GPC opened at $137.02 on Monday. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The stock has a market cap of $19.09 billion, a PE ratio of 15.28 and a beta of 0.90. The business has a 50 day moving average of $139.73 and a 200-day moving average of $145.26.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data 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 firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 EPS. Equities research analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm 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 dividend yield of 2.92%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio is 44.59%.

Analysts Set New Price Targets

A number of brokerages have 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. UBS Group lowered their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. 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 research report on Wednesday, July 24th. Truist Financial restated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. Finally, Evercore ISI cut 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 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. According to data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and a consensus price target of $161.14.

About Genuine Parts

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.