Genuine Parts (NYSE:GPC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 6.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,840,807 shares of the specialty retailer's stock after buying an additional 114,180 shares during the period. JPMorgan Chase & Co. owned 1.32% of Genuine Parts worth $257,124,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Genuine Parts in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts in the 3rd quarter worth approximately $31,000. Concord Wealth Partners raised its holdings in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock valued at $38,000 after buying an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts during the third quarter worth about $44,000. Finally, Armstrong Advisory Group Inc. grew its position in shares of Genuine Parts by 63.8% in 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 during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GPC shares. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. Truist Financial lowered their price objective 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 decreased their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Wedbush dropped their target price on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Finally, Redburn Atlantic raised shares of Genuine Parts to a "hold" rating in a research report on Monday, November 11th. Seven 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $139.57.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.37% of the company's stock.

Genuine Parts Stock Up 0.8 %

NYSE GPC traded up $0.94 during trading on Tuesday, hitting $116.76. The company's stock had a trading volume of 880,035 shares, compared to its average volume of 1,070,887. The company has a market cap of $16.23 billion, a PE ratio of 15.03 and a beta of 0.94. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The business's 50 day simple moving average is $120.69 and its 200-day simple moving average is $132.47.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.49 earnings per share. On average, equities analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.43%. Genuine Parts's dividend payout ratio (DPR) is currently 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.