Tectonic Advisors LLC Acquires 164 Shares of Genuine Parts (NYSE:GPC)

Tectonic Advisors LLC lifted its holdings in Genuine Parts (NYSE:GPC) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,761 shares of the specialty retailer’s stock after purchasing an additional 164 shares during the quarter. Tectonic Advisors LLC’s holdings in Genuine Parts were worth $386,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wulff Hansen & CO. lifted its position 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 worth $216,675,000 after buying an additional 1,555,149 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after acquiring an additional 239,858 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Genuine Parts by 29.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after acquiring an additional 223,712 shares in the last quarter. International Assets Investment Management LLC boosted its position in Genuine Parts by 14,222.1% during the third 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 last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Genuine Parts by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock valued at $75,326,000 after purchasing an additional 13,753 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GPC shares. The Goldman Sachs Group dropped their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial cut their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday. Wedbush lowered their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday. Evercore ISI upped their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Finally, UBS Group reduced their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Trading Up 1.0 %

Shares of Genuine Parts stock opened at $114.24 on Friday. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The stock has a market cap of $15.92 billion, a PE ratio of 14.70 and a beta of 0.90. The firm has a 50-day moving average of $137.22 and a 200-day moving average of $142.12. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.54 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the company earned $2.49 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts forecast that Genuine Parts will post 8.1 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.50%. Genuine Parts’s dividend payout ratio is presently 51.48%.

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.