Genuine Parts (NYSE:GPC) Stock Position Boosted by Romano Brothers AND Company

Romano Brothers AND Company raised its stake in shares of Genuine Parts (NYSE:GPC) by 30.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,525 shares of the specialty retailer’s stock after buying an additional 2,900 shares during the period. Romano Brothers AND Company’s holdings in Genuine Parts were worth $1,749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Manchester Capital Management LLC boosted its holdings in shares of Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the period. North Star Investment Management Corp. boosted its stake in shares of Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after buying an additional 70 shares during the period. First Citizens Bank & Trust Co. grew its holdings in shares of Genuine Parts by 4.9% during the 2nd 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. HBK Sorce Advisory LLC increased its stake 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 worth $689,000 after acquiring an additional 80 shares during the last quarter. Finally, Dover Advisors LLC raised its holdings in shares of Genuine Parts by 5.1% during the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after acquiring an additional 85 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Up 2.8 %

NYSE:GPC opened at $116.24 on Thursday. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The firm has a market cap of $16.19 billion, a price-to-earnings ratio of 12.96 and a beta of 0.90. The company’s 50 day moving average is $138.23 and its 200-day moving average is $142.63.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the business 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 analysts anticipate that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 yield of 3.44%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is 44.59%.

Analysts Set New Price Targets

GPC has been the topic of a number of recent research reports. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial lowered their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $139.57.

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.