Commerzbank Aktiengesellschaft FI Buys New Position in Genuine Parts (NYSE:GPC)

Commerzbank Aktiengesellschaft FI acquired a new position in shares of Genuine Parts (NYSE:GPC - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,044 shares of the specialty retailer's stock, valued at approximately $845,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Genuine Parts by 726.9% during the 4th quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer's stock worth $7,582,000 after acquiring an additional 48,122 shares during the last quarter. RFG Advisory LLC acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $225,000. Sunbelt Securities Inc. raised its position in shares of Genuine Parts by 255.5% during the first quarter. Sunbelt Securities Inc. now owns 647 shares of the specialty retailer's stock worth $100,000 after acquiring an additional 465 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of Genuine Parts by 11.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 13,418 shares of the specialty retailer's stock valued at $2,079,000 after acquiring an additional 1,426 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Genuine Parts by 5.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 48,019 shares of the specialty retailer's stock valued at $7,440,000 after acquiring an additional 2,548 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GPC. The Goldman Sachs Group dropped their price objective on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a report on Wednesday. UBS Group cut their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday. Wedbush lowered their target price on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a report on Wednesday. Truist Financial cut their price target on Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, StockNews.com cut Genuine Parts from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $139.57.

Genuine Parts Trading Down 2.7 %

Genuine Parts stock traded down $3.13 during mid-day trading on Thursday, hitting $113.11. 2,219,003 shares of the company's stock were exchanged, compared to its average volume of 1,002,013. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $15.76 billion, a P/E ratio of 12.96 and a beta of 0.90. The company's 50 day simple moving average is $138.23 and its 200-day simple moving average is $142.63.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period in the prior year, the business earned $2.49 EPS. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Friday, September 6th. Genuine Parts's dividend payout ratio (DPR) is presently 44.59%.

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.