United Asset Strategies Inc. Has $629,000 Position in Genuine Parts (NYSE:GPC)

United Asset Strategies Inc. reduced its position in shares of Genuine Parts (NYSE:GPC) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,551 shares of the specialty retailer’s stock after selling 350 shares during the quarter. United Asset Strategies Inc.’s holdings in Genuine Parts were worth $629,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GPC. Norges Bank acquired a new stake in Genuine Parts during the 4th quarter valued at $215,643,000. Stifel Financial Corp increased its stake in shares of Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after acquiring an additional 431,623 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Genuine Parts by 3,029.9% in the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after acquiring an additional 368,470 shares during the last quarter. Morningstar Investment Services LLC increased its stake in shares of Genuine Parts by 161.2% in the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after acquiring an additional 357,091 shares during the last quarter. Finally, Natixis increased its stake in shares of Genuine Parts by 768.4% in the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after acquiring an additional 279,930 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Up 0.7 %

GPC stock opened at $143.26 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The company has a 50-day moving average of $139.08 and a two-hundred day moving average of $146.26. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of 15.97 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the company earned $2.44 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GPC. UBS Group dropped their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial reiterated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. Evercore ISI decreased their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group decreased their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $161.14.

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.