Charles Schwab Investment Management Inc. Purchases 30,354 Shares of Genuine Parts (NYSE:GPC)

Charles Schwab Investment Management Inc. increased its stake in Genuine Parts (NYSE:GPC - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,743,970 shares of the specialty retailer's stock after purchasing an additional 30,354 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.97% of Genuine Parts worth $383,511,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Miramar Capital LLC raised its holdings in shares of Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer's stock valued at $12,264,000 after buying an additional 7,845 shares in the last quarter. Conning Inc. raised its stake in shares of Genuine Parts by 8.2% during the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer's stock worth $36,499,000 after acquiring an additional 19,795 shares in the last quarter. WD Rutherford LLC lifted its holdings in shares of Genuine Parts by 4,265.9% in the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer's stock worth $1,037,000 after acquiring an additional 7,252 shares during the last quarter. Comerica Bank boosted its stake in shares of 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 purchasing an additional 18,657 shares in the last quarter. Finally, Hamlin Capital Management LLC grew its holdings in shares of Genuine Parts by 12.3% during the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer's stock valued at $82,561,000 after purchasing an additional 64,520 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their target price on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a "hold" rating in a research report on Monday, November 11th. Finally, Wedbush decreased their price objective 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. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Genuine Parts has an average rating of "Hold" and an average target price of $139.57.

Genuine Parts Trading Up 1.7 %

Shares of GPC traded up $2.11 during trading hours on Friday, reaching $124.80. 953,331 shares of the company traded hands, compared to its average volume of 1,618,961. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of 16.06 and a beta of 0.92. The company's fifty day moving average price is $129.44 and its two-hundred day moving average price is $137.38. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

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

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 3.21%. The ex-dividend date is Friday, December 6th. Genuine Parts's dividend payout ratio (DPR) is presently 51.48%.

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.