Genuine Parts (NYSE:GPC) Shares Acquired by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc boosted its stake in Genuine Parts (NYSE:GPC) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,121 shares of the specialty retailer’s stock after acquiring an additional 114 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Genuine Parts were worth $1,972,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wulff Hansen & CO. boosted its stake in shares of 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 valued at $216,675,000 after purchasing an additional 1,555,149 shares during the period. International Assets Investment Management LLC grew its stake in shares of Genuine Parts by 14,222.1% during the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after acquiring an additional 580,262 shares in the last quarter. Boston Trust Walden Corp purchased a new stake in shares of Genuine Parts during the third quarter worth about $39,474,000. Natixis lifted its stake in shares of Genuine Parts by 768.4% in the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after acquiring an additional 279,930 shares in the last quarter. Finally, Anchor Capital Advisors LLC boosted its holdings in Genuine Parts by 1,457.3% in the first quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock valued at $41,825,000 after purchasing an additional 252,626 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 5.7 %

NYSE:GPC opened at $123.28 on Thursday. The firm has a market capitalization of $17.14 billion, a PE ratio of 15.87 and a beta of 0.92. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $133.66 and a 200-day moving average of $140.42.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same period in the prior year, the business earned $2.49 earnings per share. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.24%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analysts Set New Price Targets

GPC has been the topic of a number of recent analyst reports. Truist Financial cut their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Evercore ISI boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $139.57.

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.