Transamerica Financial Advisors Inc. Buys 616 Shares of Genuine Parts (NYSE:GPC)

Transamerica Financial Advisors Inc. increased its stake in Genuine Parts (NYSE:GPC) by 12.2% during the third quarter, HoldingsChannel reports. The firm owned 5,666 shares of the specialty retailer’s stock after acquiring an additional 616 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Genuine Parts were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. First Citizens Bank & Trust Co. raised its holdings in shares of 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 purchasing an additional 75 shares during the period. Dover Advisors LLC grew its stake in Genuine Parts by 5.1% in the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after buying an additional 85 shares in the last quarter. Metis Global Partners LLC grew its stake in Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after buying an additional 85 shares in the last quarter. Blackhawk Capital Partners LLC. grew its stake in Genuine Parts by 1.3% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock valued at $940,000 after buying an additional 86 shares in the last quarter. Finally, Guardian Wealth Advisors LLC grew its stake in Genuine Parts by 2.7% in the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after buying an additional 91 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.2 %

Shares of NYSE:GPC opened at $127.88 on Wednesday. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The firm has a fifty day moving average of $129.29 and a 200 day moving average of $136.96. The firm has a market capitalization of $17.78 billion, a PE ratio of 16.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

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). The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.49 earnings per share. As a group, research analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

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. This represents a $4.00 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GPC shares. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group reduced their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Truist Financial reduced their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI boosted their price target on shares of 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $139.57.

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.