Advisors Asset Management Inc. Acquires 5,567 Shares of Genuine Parts (NYSE:GPC)

Advisors Asset Management Inc. increased its holdings in Genuine Parts (NYSE:GPC) by 11.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 53,526 shares of the specialty retailer’s stock after buying an additional 5,567 shares during the quarter. Advisors Asset Management Inc.’s holdings in Genuine Parts were worth $7,477,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. First Citizens Bank & Trust Co. increased its holdings in Genuine Parts by 4.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after buying an additional 75 shares in the last quarter. Dover Advisors LLC boosted its position in Genuine Parts by 5.1% in the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after purchasing an additional 85 shares during the last quarter. Metis Global Partners LLC boosted its position in Genuine Parts by 1.9% in the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after purchasing an additional 85 shares during the last quarter. Blackhawk Capital Partners LLC. boosted its position in Genuine Parts by 1.3% in the second quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock worth $940,000 after purchasing an additional 86 shares during the last quarter. Finally, Guardian Wealth Advisors LLC boosted its position in Genuine Parts by 2.7% in the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after purchasing an additional 91 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. The Goldman Sachs Group dropped their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Evercore ISI lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Trading Down 0.4 %

GPC stock opened at $120.76 on Thursday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of 15.54 and a beta of 0.92. The business has a 50 day simple moving average of $129.96 and a two-hundred day simple moving average of $137.71.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the company earned $2.49 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.31%. Genuine Parts’s payout ratio is 51.48%.

About Genuine Parts

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.