Lifeworks Advisors LLC Boosts Stock Position in Genuine Parts (NYSE:GPC)

Lifeworks Advisors LLC increased its position in shares of Genuine Parts (NYSE:GPC) by 34.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,117 shares of the specialty retailer’s stock after purchasing an additional 546 shares during the period. Lifeworks Advisors LLC’s holdings in Genuine Parts were worth $296,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GPC. Wulff Hansen & CO. increased its position in shares of Genuine Parts by 13,732.0% during the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after purchasing an additional 1,555,149 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Genuine Parts by 14,222.1% during the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after purchasing an additional 580,262 shares in the last quarter. Boston Trust Walden Corp purchased a new stake in shares of Genuine Parts during the third quarter worth approximately $39,474,000. Natixis increased its position in shares of Genuine Parts by 768.4% during the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after purchasing an additional 279,930 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Genuine Parts by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after purchasing an additional 239,858 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday. 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 note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered 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 lowered 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. Finally, The Goldman Sachs Group lowered their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $123.87 on Friday. The stock’s 50-day moving average is $131.02 and its two-hundred day moving average is $138.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a market cap of $17.22 billion, a price-to-earnings ratio of 15.94 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS 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 business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the previous year, the company posted $2.49 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.23%. Genuine Parts’s payout ratio is currently 51.48%.

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.