Brooklyn Investment Group Invests $99,000 in Genuine Parts (NYSE:GPC)

Brooklyn Investment Group acquired a new stake in shares of Genuine Parts (NYSE:GPC) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 710 shares of the specialty retailer’s stock, valued at approximately $99,000.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts in the third quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the third quarter valued at about $31,000. Concord Wealth Partners grew its holdings in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in shares of Genuine Parts in the 2nd quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $44,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GPC. Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price objective 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. Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group cut their price objective on shares of 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, The Goldman Sachs Group lowered their target price 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. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Down 0.8 %

Genuine Parts stock opened at $126.87 on Thursday. The business’s 50-day simple moving average is $129.10 and its two-hundred day simple moving average is $136.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a market cap of $17.64 billion, a PE ratio of 16.33 and a beta of 0.92. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last issued 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 analyst estimates of $5.94 billion. During the same quarter last year, the company posted $2.49 EPS. Genuine Parts’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that Genuine Parts will post 8.09 EPS for the current 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 issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, December 6th. 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.