Hamlin Capital Management LLC Grows Position in Genuine Parts (NYSE:GPC)

Hamlin Capital Management LLC lifted its holdings in Genuine Parts (NYSE:GPC - Free Report) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,075 shares of the specialty retailer's stock after buying an additional 64,520 shares during the quarter. Genuine Parts accounts for 2.1% of Hamlin Capital Management LLC's portfolio, making the stock its 25th biggest holding. Hamlin Capital Management LLC owned 0.42% of Genuine Parts worth $82,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wulff Hansen & CO. lifted its holdings in Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer's stock valued at $216,675,000 after acquiring an additional 1,555,149 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer's stock valued at $189,296,000 after purchasing an additional 239,858 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake 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 purchasing an additional 223,712 shares during the period. International Assets Investment Management LLC boosted its holdings in 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 buying an additional 580,262 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Genuine Parts by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer's stock worth $75,326,000 after buying an additional 13,753 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GPC shares. StockNews.com downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a report on Wednesday. Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a report on Tuesday, October 22nd. The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, UBS Group decreased their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $139.57.

Genuine Parts Price Performance

Shares of GPC traded up $1.13 during trading hours on Friday, reaching $114.24. 2,138,120 shares of the company traded hands, compared to its average volume of 1,074,868. The stock has a market capitalization of $15.91 billion, a PE ratio of 12.74 and a beta of 0.90. The stock has a fifty day simple moving average of $137.22 and a 200 day simple moving average of $142.08. 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 1.17 and a debt-to-equity ratio of 0.81.

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 (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion for 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 revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.49 earnings per share. As a group, research analysts predict that Genuine Parts will post 8.1 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts's dividend payout ratio is currently 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.