Jensen Investment Management Inc. Increases Position in Genuine Parts (NYSE:GPC)

Jensen Investment Management Inc. increased its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 13.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,430 shares of the specialty retailer's stock after buying an additional 5,840 shares during the quarter. Jensen Investment Management Inc.'s holdings in Genuine Parts were worth $6,765,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts in the third quarter valued at about $31,000. Concord Wealth Partners lifted its position in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 119 shares during the period. Triad Wealth Partners LLC purchased a new stake in Genuine Parts in the 2nd quarter valued at approximately $40,000. Catalyst Capital Advisors LLC acquired a new position in Genuine Parts during the 3rd quarter worth approximately $44,000. Finally, Armstrong Advisory Group Inc. raised its stake in shares of Genuine Parts by 63.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer's stock worth $51,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GPC. StockNews.com downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. Wedbush decreased 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. UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Evercore ISI raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Six 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, the company presently has a consensus rating of "Hold" and an average target price of $139.57.

Genuine Parts Price Performance

NYSE GPC traded down $0.63 during trading hours on Friday, reaching $122.41. The company's stock had a trading volume of 1,220,592 shares, compared to its average volume of 1,893,967. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company's 50-day moving average is $132.47 and its two-hundred day moving average is $139.58. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The stock has a market cap of $17.02 billion, a PE ratio of 15.75 and a beta of 0.92.

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

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.27%. Genuine Parts's dividend payout ratio is currently 51.48%.

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.