WealthPlan Investment Management LLC Raises Holdings in Genuine Parts (NYSE:GPC)

WealthPlan Investment Management LLC increased its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 7.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,949 shares of the specialty retailer's stock after buying an additional 4,836 shares during the quarter. WealthPlan Investment Management LLC owned about 0.05% of Genuine Parts worth $9,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC boosted its position in shares of Genuine Parts by 45.9% during the first quarter. Empowered Funds LLC now owns 2,472 shares of the specialty retailer's stock worth $383,000 after buying an additional 778 shares during the period. SG Americas Securities LLC boosted its stake in shares of Genuine Parts by 22.1% in the first quarter. SG Americas Securities LLC now owns 22,297 shares of the specialty retailer's stock valued at $3,454,000 after purchasing an additional 4,038 shares during the period. Sei Investments Co. lifted its holdings in Genuine Parts by 55.9% during the 1st quarter. Sei Investments Co. now owns 106,239 shares of the specialty retailer's stock worth $16,456,000 after buying an additional 38,102 shares in the last quarter. Williams Jones Wealth Management LLC. increased its position in shares of Genuine Parts by 15.1% during the first quarter. Williams Jones Wealth Management LLC. now owns 2,685 shares of the specialty retailer's stock worth $416,000 after acquiring an additional 352 shares during the period. Finally, US Bancorp DE boosted its holdings in Genuine Parts by 5.4% in the first quarter. US Bancorp DE now owns 39,911 shares of the specialty retailer's stock valued at $6,184,000 after purchasing an additional 2,053 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Up 0.5 %

NYSE:GPC traded up $0.56 during midday trading on Tuesday, hitting $122.92. 363,276 shares of the company were exchanged, compared to its average volume of 1,048,861. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a market capitalization of $17.09 billion, a PE ratio of 15.75 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $132.05 and a 200 day simple moving average of $139.31.

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 the consensus estimate of $2.42 by ($0.54). The firm 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%. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.49 earnings per share. As a group, equities analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.25%. Genuine Parts's dividend payout ratio (DPR) is presently 51.48%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GPC. JPMorgan Chase & Co. decreased 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. 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 research note on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. 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 research report on Wednesday, October 23rd. Finally, 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. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $139.57.

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.