CX Institutional Purchases 177 Shares of Genuine Parts (NYSE:GPC)

CX Institutional raised its position in shares of Genuine Parts (NYSE:GPC) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,554 shares of the specialty retailer’s stock after purchasing an additional 177 shares during the quarter. CX Institutional’s holdings in Genuine Parts were worth $496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WD Rutherford LLC bought a new position in Genuine Parts in the 1st quarter worth $26,000. Thompson Investment Management Inc. bought a new position in shares of Genuine Parts in the first quarter worth about $35,000. Stephens Consulting LLC grew its stake in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Manchester Capital Management LLC grew its stake in shares of Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 66 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in Genuine Parts in the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.3 %

Shares of GPC stock opened at $143.64 on Friday. 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 stock has a market capitalization of $20.01 billion, a price-to-earnings ratio of 16.01 and a beta of 0.90. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The stock’s 50-day moving average price is $138.85 and its 200-day moving average price is $143.34.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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). The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 EPS. Equities research analysts predict that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed 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 yield of 2.78%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Analysts Set New Price Targets

GPC has been the subject of a number of recent analyst reports. Wedbush dropped their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. The Goldman Sachs Group lowered their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. UBS Group cut their target price 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. Finally, Evercore ISI lowered their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $157.29.

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.