Ullmann Wealth Partners Group LLC Takes Position in Genuine Parts (NYSE:GPC)

Ullmann Wealth Partners Group LLC acquired a new stake in shares of Genuine Parts (NYSE:GPC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,906 shares of the specialty retailer’s stock, valued at approximately $406,000.

A number of other institutional investors have also modified their holdings of the business. Manchester Capital Management LLC grew its position 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 buying an additional 66 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in shares of Genuine Parts by 8.5% in the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after acquiring an additional 70 shares in the last quarter. CHICAGO TRUST Co NA boosted its holdings in shares of Genuine Parts by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after acquiring an additional 71 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after acquiring an additional 75 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its holdings in shares of Genuine Parts by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of NYSE:GPC traded up $0.97 on Tuesday, hitting $140.41. The company had a trading volume of 1,153,889 shares, compared to its average volume of 961,013. 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 50 day moving average price of $138.62 and a 200 day moving average price of $143.44. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The stock has a market cap of $19.56 billion, a price-to-earnings ratio of 15.55 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The company 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 firm’s revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $2.44 EPS. Analysts expect that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GPC. UBS Group cut their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Wedbush reduced 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 restated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. Evercore ISI reduced their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group reduced 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 report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $161.14.

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.