Van ECK Associates Corp Buys Shares of 20,771 Genuine Parts (NYSE:GPC)

Van ECK Associates Corp purchased a new position in shares of Genuine Parts (NYSE:GPC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,771 shares of the specialty retailer’s stock, valued at approximately $2,873,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. WD Rutherford LLC bought a new position in Genuine Parts during the first quarter valued at about $26,000. Assetmark Inc. boosted its position in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the period. Union Savings Bank boosted its position in Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the period. Thompson Investment Management Inc. acquired a new position in Genuine Parts during the first quarter valued at approximately $35,000. Finally, Stephens Consulting LLC raised its position in shares of Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $137.34 on Friday. The business’s 50 day moving average is $139.22 and its 200-day moving average is $146.16. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $19.13 billion, a PE ratio of 15.31 and a beta of 0.92. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45.

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

Genuine Parts Dividend Announcement

The business also recently disclosed 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 2.91%. The ex-dividend date is Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GPC shares. Truist Financial reiterated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. The Goldman Sachs Group decreased their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. UBS Group dropped their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, Wedbush reduced their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Genuine Parts presently 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.