Alaethes Wealth LLC Raises Stock Holdings in Genuine Parts (NYSE:GPC)

Alaethes Wealth LLC grew its holdings in shares of Genuine Parts (NYSE:GPC) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,915 shares of the specialty retailer’s stock after purchasing an additional 284 shares during the quarter. Alaethes Wealth LLC’s holdings in Genuine Parts were worth $1,102,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ensign Peak Advisors Inc boosted its holdings in shares of Genuine Parts by 6.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 47,665 shares of the specialty retailer’s stock valued at $6,593,000 after acquiring an additional 3,095 shares during the last quarter. Summit Trail Advisors LLC boosted its position in Genuine Parts by 7.9% during the second quarter. Summit Trail Advisors LLC now owns 2,273 shares of the specialty retailer’s stock worth $317,000 after acquiring an additional 166 shares during the last quarter. Sei Investments Co. lifted its position in Genuine Parts by 11.7% during the second quarter. Sei Investments Co. now owns 118,676 shares of the specialty retailer’s stock worth $16,413,000 after buying an additional 12,437 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Genuine Parts by 21.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 29,240 shares of the specialty retailer’s stock worth $4,044,000 after buying an additional 5,100 shares in the last quarter. Finally, AE Wealth Management LLC grew its holdings in Genuine Parts by 23.7% in the 2nd quarter. AE Wealth Management LLC now owns 24,396 shares of the specialty retailer’s stock valued at $3,374,000 after buying an additional 4,672 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GPC. Wedbush reduced their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Finally, UBS Group lowered their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Price Performance

Genuine Parts stock opened at $137.02 on Friday. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The company’s 50 day simple moving average is $139.73 and its 200-day simple moving average is $145.32. The company has a market capitalization of $19.09 billion, a price-to-earnings ratio of 15.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Genuine Parts (NYSE:GPC) last released its 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 return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the company earned $2.44 earnings per share. Genuine Parts’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

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 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.