Genuine Parts (NYSE:GPC) Shares Purchased by Grimes & Company Inc.

Grimes & Company Inc. raised its position in shares of Genuine Parts (NYSE:GPC) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,383 shares of the specialty retailer’s stock after purchasing an additional 315 shares during the period. Grimes & Company Inc.’s holdings in Genuine Parts were worth $473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Wulff Hansen & CO. boosted its stake in Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after purchasing an additional 1,555,149 shares during the period. International Assets Investment Management LLC boosted its stake in Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the period. DAVENPORT & Co LLC boosted its stake in Genuine Parts by 3,029.9% during the 1st quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after purchasing an additional 368,470 shares during the period. Natixis boosted its stake in Genuine Parts by 768.4% during the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after purchasing an additional 279,930 shares during the period. Finally, Anchor Capital Advisors LLC boosted its stake in Genuine Parts by 1,457.3% during the 1st quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock valued at $41,825,000 after purchasing an additional 252,626 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPC has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wedbush dropped their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Down 2.7 %

NYSE GPC opened at $113.11 on Friday. 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 company’s 50 day simple moving average is $137.72 and its 200 day simple moving average is $142.43. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a market capitalization of $15.76 billion, a P/E ratio of 12.61 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the previous year, the firm earned $2.49 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 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.