Livforsakringsbolaget Skandia Omsesidigt Purchases 3,500 Shares of Genuine Parts (NYSE:GPC)

Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Genuine Parts (NYSE:GPC) by 39.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,324 shares of the specialty retailer’s stock after acquiring an additional 3,500 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Genuine Parts were worth $1,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. WD Rutherford LLC bought a new stake in shares of Genuine Parts in the 1st quarter worth $26,000. Union Savings Bank increased 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 worth $31,000 after buying an additional 100 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in Genuine Parts in the 1st quarter worth about $35,000. Stephens Consulting LLC lifted its stake in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Finally, Bruce G. Allen Investments LLC grew its stake in shares of Genuine Parts by 149.0% in the first quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 152 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on GPC. Wedbush lowered their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. UBS Group cut their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday, October 4th. The Goldman Sachs Group cut their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, Evercore ISI lowered their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Stock Up 2.8 %

GPC stock opened at $137.24 on Friday. The business’s 50-day moving average price is $138.60 and its 200-day moving average price is $143.63. The stock has a market cap of $19.12 billion, a P/E ratio of 15.30 and a beta of 0.90. 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 twelve month low of $126.35 and a twelve month high of $164.45.

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). The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 EPS. On average, equities research analysts forecast that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 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.