Genuine Parts (NYSE:GPC) Holdings Raised by Empowered Funds LLC

Empowered Funds LLC raised its holdings in Genuine Parts (NYSE:GPC - Free Report) by 160.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,977 shares of the specialty retailer's stock after buying an additional 16,013 shares during the quarter. Empowered Funds LLC's holdings in Genuine Parts were worth $3,628,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GPC. Empirical Finance LLC increased its holdings in shares of Genuine Parts by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 4,885 shares of the specialty retailer's stock worth $682,000 after buying an additional 110 shares during the last quarter. Royce & Associates LP grew its position in Genuine Parts by 8.7% during the third quarter. Royce & Associates LP now owns 12,500 shares of the specialty retailer's stock valued at $1,746,000 after acquiring an additional 1,000 shares during the period. CIBC Asset Management Inc increased its stake in Genuine Parts by 7.1% during the third quarter. CIBC Asset Management Inc now owns 23,768 shares of the specialty retailer's stock worth $3,320,000 after acquiring an additional 1,572 shares during the last quarter. Lifeworks Advisors LLC raised its holdings in shares of Genuine Parts by 34.8% in the 3rd quarter. Lifeworks Advisors LLC now owns 2,117 shares of the specialty retailer's stock worth $296,000 after purchasing an additional 546 shares during the period. Finally, Metis Global Partners LLC lifted its stake in shares of Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer's stock valued at $625,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 22nd. Wedbush reduced their target price on shares of 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 lowered their price target on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group decreased their target price on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $139.57.

Genuine Parts Stock Down 2.4 %

Shares of Genuine Parts stock traded down $2.93 during trading hours on Tuesday, hitting $121.26. 1,053,814 shares of the company's stock traded hands, compared to its average volume of 1,057,045. 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 has a twelve month low of $112.74 and a twelve month high of $164.45. The stock has a 50 day simple moving average of $130.25 and a 200-day simple moving average of $137.83. The company has a market cap of $16.86 billion, a PE ratio of 15.61 and a beta of 0.92.

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 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%. Genuine Parts's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.49 EPS. Equities research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.30%. 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.