Oppenheimer Asset Management Inc. Buys 14,084 Shares of Genuine Parts (NYSE:GPC)

Oppenheimer Asset Management Inc. raised its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 127,813 shares of the specialty retailer's stock after purchasing an additional 14,084 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.09% of Genuine Parts worth $17,853,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Conning Inc. boosted its stake in shares of Genuine Parts by 8.2% in the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer's stock worth $36,499,000 after buying an additional 19,795 shares during the last quarter. WD Rutherford LLC boosted its stake in shares of Genuine Parts by 4,265.9% in the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer's stock worth $1,037,000 after buying an additional 7,252 shares during the last quarter. Comerica Bank raised its holdings in Genuine Parts by 19.6% in the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer's stock worth $17,609,000 after purchasing an additional 18,657 shares during the period. Hamlin Capital Management LLC raised its holdings in Genuine Parts by 12.3% in the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer's stock worth $82,561,000 after purchasing an additional 64,520 shares during the period. Finally, Jensen Investment Management Inc. raised its holdings in Genuine Parts by 13.7% in the 3rd quarter. Jensen Investment Management Inc. now owns 48,430 shares of the specialty retailer's stock worth $6,765,000 after purchasing an additional 5,840 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Redburn Atlantic raised Genuine Parts to a "hold" rating in a report on Monday. UBS Group decreased their target price on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. Wedbush decreased their price target on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Finally, Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Genuine Parts presently has an average rating of "Hold" and a consensus price target of $139.57.

Genuine Parts Trading Up 0.8 %

GPC traded up $1.00 on Wednesday, hitting $123.70. The company had a trading volume of 1,437,276 shares, compared to its average volume of 1,055,953. The company has a market cap of $17.20 billion, a PE ratio of 15.92 and a beta of 0.92. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The business's fifty day simple moving average is $131.64 and its 200 day simple moving average is $139.05.

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 return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to analysts' expectations of $5.94 billion. During the same quarter in the prior year, the business posted $2.49 EPS. The company's revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.23%. Genuine Parts's dividend payout ratio (DPR) is presently 51.48%.

Genuine Parts 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.