WD Rutherford LLC Purchases 7,252 Shares of Genuine Parts (NYSE:GPC)

WD Rutherford LLC lifted its holdings in Genuine Parts (NYSE:GPC - Free Report) by 4,265.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,422 shares of the specialty retailer's stock after purchasing an additional 7,252 shares during the quarter. WD Rutherford LLC's holdings in Genuine Parts were worth $1,037,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GPC. Wulff Hansen & CO. increased its position in shares of Genuine Parts by 13,732.0% during the 2nd 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. Dimensional Fund Advisors LP grew its stake 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 buying an additional 239,858 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Genuine Parts by 29.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer's stock worth $135,579,000 after buying an additional 223,712 shares during the last quarter. Hamlin Capital Management LLC raised its position in Genuine Parts by 12.3% during the third quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer's stock worth $82,561,000 after acquiring an additional 64,520 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer's stock valued at $81,621,000 after acquiring an additional 580,262 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GPC shares. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 22nd. Finally, StockNews.com downgraded Genuine Parts from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $139.57.

Genuine Parts Stock Performance

NYSE GPC traded down $1.01 on Wednesday, reaching $116.27. The stock had a trading volume of 1,520,107 shares, compared to its average volume of 1,031,057. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.54. The company has a market cap of $16.20 billion, a P/E ratio of 12.96 and a beta of 0.90. The firm has a fifty day moving average of $135.82 and a two-hundred day moving average of $141.50. 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 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the company posted $2.49 earnings per share. The company's revenue was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Genuine Parts will post 8.1 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.44%. Genuine Parts's dividend payout ratio is presently 44.59%.

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.