Genuine Parts (NYSE:GPC) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance raised its holdings in shares of Genuine Parts (NYSE:GPC) by 2.5% in the third quarter, Holdings Channel.com reports. The firm owned 19,994 shares of the specialty retailer’s stock after buying an additional 492 shares during the period. Independent Advisor Alliance’s holdings in Genuine Parts were worth $2,793,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GPC. Price T Rowe Associates Inc. MD grew its stake in Genuine Parts by 0.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 192,927 shares of the specialty retailer’s stock valued at $29,891,000 after purchasing an additional 1,127 shares in the last quarter. SVB Wealth LLC grew its position in shares of Genuine Parts by 3.2% in the 1st quarter. SVB Wealth LLC now owns 4,927 shares of the specialty retailer’s stock worth $763,000 after acquiring an additional 151 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Genuine Parts by 70.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,537 shares of the specialty retailer’s stock worth $1,822,000 after acquiring an additional 5,198 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Genuine Parts by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 229,176 shares of the specialty retailer’s stock worth $35,506,000 after acquiring an additional 2,328 shares in the last quarter. Finally, Tidal Investments LLC grew its position in shares of Genuine Parts by 63.8% in the 1st quarter. Tidal Investments LLC now owns 11,866 shares of the specialty retailer’s stock worth $1,838,000 after acquiring an additional 4,620 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Up 3.8 %

Shares of Genuine Parts stock opened at $129.54 on Tuesday. The business’s fifty day moving average price is $129.29 and its two-hundred day moving average price is $136.96. 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 $18.01 billion, a P/E ratio of 16.67 and a beta of 0.92. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its 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). The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 EPS. As a group, research analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, December 6th. Genuine Parts’s payout ratio is currently 51.48%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GPC shares. The Goldman Sachs Group decreased their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. UBS Group decreased their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, Wedbush cut their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.