Natixis Advisors LLC Buys 17,026 Shares of Genuine Parts (NYSE:GPC)

Natixis Advisors LLC grew its stake in shares of Genuine Parts (NYSE:GPC) by 16.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,103 shares of the specialty retailer’s stock after buying an additional 17,026 shares during the period. Natixis Advisors LLC owned 0.09% of Genuine Parts worth $16,916,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Genuine Parts during the third quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts during the 3rd quarter valued at $31,000. Concord Wealth Partners raised its position in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the period. Triad Wealth Partners LLC purchased a new position in shares of Genuine Parts during the 2nd quarter valued at $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in Genuine Parts in the 3rd quarter worth $44,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, UBS Group dropped their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Trading Down 2.4 %

Shares of GPC opened at $121.26 on Wednesday. The stock has a market capitalization of $16.86 billion, a PE ratio of 15.61 and a beta of 0.92. The company’s fifty day moving average is $130.25 and its 200 day moving average is $137.83. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the firm earned $2.49 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.30%. Genuine Parts’s dividend payout ratio (DPR) is 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.