Genuine Parts (NYSE:GPC) Shares Purchased by Verity & Verity LLC

Verity & Verity LLC boosted its position in shares of Genuine Parts (NYSE:GPC) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,427 shares of the specialty retailer’s stock after buying an additional 1,826 shares during the quarter. Verity & Verity LLC owned approximately 0.06% of Genuine Parts worth $12,231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comerica Bank grew its stake in Genuine Parts by 19.6% in the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after acquiring an additional 18,657 shares during the period. Harvest Investment Advisors LLC increased its stake in shares of Genuine Parts by 1.5% during the fourth quarter. Harvest Investment Advisors LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,228,000 after purchasing an additional 133 shares in the last quarter. Mezzasalma Advisors LLC boosted its holdings in Genuine Parts by 497.0% in the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock worth $1,865,000 after buying an additional 10,019 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Genuine Parts by 137.9% in the first quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock worth $3,560,000 after acquiring an additional 13,330 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in Genuine Parts in the 1st quarter valued at $3,083,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

GPC has been the subject of a number of research reports. Truist Financial reaffirmed a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Wedbush decreased their target price 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 reduced their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Five research 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 company has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Trading Down 0.0 %

GPC opened at $139.65 on Wednesday. The business has a fifty day moving average price of $139.67 and a 200 day moving average price of $144.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The stock has a market capitalization of $19.45 billion, a price-to-earnings ratio of 15.57 and a beta of 0.90.

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

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

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.