VELA Investment Management LLC Purchases 760 Shares of Genuine Parts (NYSE:GPC)

VELA Investment Management LLC grew its position in shares of Genuine Parts (NYSE:GPC) by 24.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,884 shares of the specialty retailer’s stock after acquiring an additional 760 shares during the quarter. VELA Investment Management LLC’s holdings in Genuine Parts were worth $543,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in Genuine Parts by 90.6% in the third quarter. Farther Finance Advisors LLC now owns 3,300 shares of the specialty retailer’s stock worth $461,000 after purchasing an additional 1,569 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Genuine Parts by 5.2% in the third quarter. Creative Financial Designs Inc. ADV now owns 5,744 shares of the specialty retailer’s stock valued at $802,000 after buying an additional 282 shares during the period. Stephens Inc. AR raised its stake in shares of Genuine Parts by 5.9% in the third quarter. Stephens Inc. AR now owns 11,725 shares of the specialty retailer’s stock valued at $1,638,000 after buying an additional 657 shares during the period. United Asset Strategies Inc. raised its stake in shares of Genuine Parts by 2.4% in the third quarter. United Asset Strategies Inc. now owns 4,659 shares of the specialty retailer’s stock valued at $651,000 after buying an additional 108 shares during the period. Finally, HM Payson & Co. raised its stake in shares of Genuine Parts by 20.2% in the third quarter. HM Payson & Co. now owns 3,200 shares of the specialty retailer’s stock valued at $447,000 after buying an additional 537 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.0 %

Shares of NYSE:GPC traded down $1.09 during trading on Friday, hitting $113.61. The stock had a trading volume of 1,318,782 shares, compared to its average volume of 1,040,548. 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 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $15.80 billion, a PE ratio of 14.62 and a beta of 0.90. The firm’s fifty day moving average is $134.72 and its 200 day moving average is $141.10.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data 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 net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the business earned $2.49 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore ISI boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial decreased their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, UBS Group decreased their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average price target of $139.57.

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.