Natixis Advisors LLC Grows Stock Holdings in Genuine Parts (NYSE:GPC)

Natixis Advisors LLC lifted its holdings in Genuine Parts (NYSE:GPC - Free Report) by 16.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 121,103 shares of the specialty retailer's stock after purchasing an additional 17,026 shares during the quarter. Natixis Advisors LLC owned 0.09% of Genuine Parts worth $16,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wulff Hansen & CO. lifted its position in shares of Genuine Parts by 13,732.0% during the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer's stock worth $216,675,000 after purchasing an additional 1,555,149 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Genuine Parts by 14,222.1% during the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer's stock worth $81,621,000 after purchasing an additional 580,262 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of Genuine Parts during the third quarter worth $39,474,000. Dimensional Fund Advisors LP raised its holdings in shares of Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer's stock valued at $189,296,000 after acquiring an additional 239,858 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Genuine Parts by 29.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer's stock valued at $135,579,000 after acquiring an additional 223,712 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 0.9 %

NYSE:GPC traded down $1.07 during trading hours on Wednesday, hitting $120.19. The company had a trading volume of 390,851 shares, compared to its average volume of 1,054,084. 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 50-day moving average of $130.25 and a 200 day moving average of $137.83. The company has a market cap of $16.71 billion, a P/E ratio of 15.61 and a beta of 0.92. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results 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). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion for the quarter, compared to analysts' expectations of $5.94 billion. During the same quarter in the prior year, the company posted $2.49 earnings per share. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts expect that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.33%. Genuine Parts's dividend payout ratio is currently 51.48%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. 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 report on Tuesday, October 22nd. Truist Financial dropped their target price 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. StockNews.com lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group reduced their target price on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Finally, Wedbush reduced their target price on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Seven 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, Genuine Parts currently has an average rating of "Hold" and an average target price 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.