Genuine Parts (NYSE:GPC) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its position in shares of Genuine Parts (NYSE:GPC) by 12.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,926 shares of the specialty retailer’s stock after acquiring an additional 1,979 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Genuine Parts were worth $2,480,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. WD Rutherford LLC acquired a new position in Genuine Parts during the 1st quarter valued at about $26,000. Assetmark Inc. grew its stake in shares of Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the last quarter. Union Savings Bank raised its holdings in shares of Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. acquired a new stake in Genuine Parts during the first quarter valued at approximately $35,000. Finally, Stephens Consulting LLC boosted its holdings in Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.8 %

NYSE:GPC opened at $137.30 on Friday. The stock has a market cap of $19.13 billion, a PE ratio of 15.31 and a beta of 0.90. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The stock’s 50-day moving average is $139.38 and its two-hundred day moving average is $145.75.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 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 company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. Genuine Parts’s dividend payout ratio is 44.59%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GPC shares. Evercore ISI cut their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. UBS Group reduced their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. The Goldman Sachs Group dropped their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Wedbush decreased their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Truist Financial restated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $161.14.

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.