Genuine Parts (NYSE:GPC) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 11.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,526 shares of the specialty retailer's stock after purchasing an additional 5,567 shares during the period. Advisors Asset Management Inc.'s holdings in Genuine Parts were worth $7,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in shares of Genuine Parts during the third quarter valued at about $297,000. PNC Financial Services Group Inc. increased its holdings in shares of Genuine Parts by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 114,379 shares of the specialty retailer's stock worth $15,976,000 after buying an additional 2,021 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Genuine Parts during the third quarter valued at approximately $1,407,000. Guardian Wealth Advisors LLC lifted its stake in shares of Genuine Parts by 2.7% in the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer's stock valued at $484,000 after acquiring an additional 91 shares during the last quarter. Finally, Prospera Financial Services Inc grew its holdings in Genuine Parts by 36.3% in the 3rd quarter. Prospera Financial Services Inc now owns 3,732 shares of the specialty retailer's stock worth $522,000 after acquiring an additional 993 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Genuine Parts stock traded up $1.10 during trading on Thursday, reaching $121.86. The company had a trading volume of 118,299 shares, compared to its average volume of 1,052,830. The firm has a market capitalization of $16.94 billion, a PE ratio of 15.54 and a beta of 0.92. The firm's 50-day simple moving average is $129.96 and its 200 day simple moving average is $137.71. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion during the quarter, compared to analysts' expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $2.49 earnings per share. As a group, equities research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts's dividend payout ratio (DPR) is 51.48%.

Analyst Ratings Changes

GPC has been the topic of a number of recent research reports. Wedbush reduced their target price on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a research report on Monday, November 11th. Finally, Evercore ISI upped their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a research report on Tuesday, October 22nd. Seven 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 currently has an average rating of "Hold" and an average 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.