Verity & Verity LLC increased its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,473 shares of the specialty retailer's stock after acquiring an additional 9,199 shares during the period. Verity & Verity LLC owned approximately 0.08% of Genuine Parts worth $12,198,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in GPC. State Street Corp lifted its stake in Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock valued at $1,103,300,000 after buying an additional 401,180 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Genuine Parts by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock valued at $458,947,000 after acquiring an additional 32,858 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Genuine Parts by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer's stock worth $383,511,000 after purchasing an additional 30,354 shares in the last quarter. Stifel Financial Corp raised its stake in Genuine Parts by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer's stock valued at $287,405,000 after purchasing an additional 25,015 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Genuine Parts by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock valued at $257,124,000 after purchasing an additional 114,180 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.
Genuine Parts Stock Down 0.8 %
Genuine Parts stock traded down $0.99 during mid-day trading on Friday, hitting $118.43. 2,448,055 shares of the company's stock were exchanged, compared to its average volume of 983,311. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The stock has a 50 day moving average of $120.69 and a two-hundred day moving average of $130.39. The stock has a market cap of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.
Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.49 earnings per share. As a group, analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.
Genuine Parts Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.38%. Genuine Parts's dividend payout ratio is 51.48%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on GPC. The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a research 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 report on Wednesday, October 23rd. UBS Group decreased 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. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday. They issued a "buy" rating and a $155.00 price objective on the stock. Finally, StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $141.50.
Check Out Our Latest Stock Analysis on Genuine Parts
Insider Activity at Genuine Parts
In other news, Director Wendy B. Needham sold 1,608 shares of the firm'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 transaction, the director now directly owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.37% of the company's stock.
Genuine Parts Company Profile
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Free Report)
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.
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