Daiwa Securities Group Inc. Boosts Stock Position in Genuine Parts (NYSE:GPC)

Daiwa Securities Group Inc. increased its position in Genuine Parts (NYSE:GPC) by 12.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,238 shares of the specialty retailer’s stock after acquiring an additional 2,312 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Genuine Parts were worth $2,827,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners grew its stake in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of Genuine Parts in the 2nd quarter worth $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GPC. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced 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 objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group reduced their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Stock Performance

NYSE:GPC opened at $126.87 on Thursday. 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 has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a market cap of $17.64 billion, a PE ratio of 16.33 and a beta of 0.92. The business has a 50 day moving average price of $129.10 and a 200-day moving average price of $136.76.

Genuine Parts (NYSE:GPC) last announced 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 net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the previous year, the company earned $2.49 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that Genuine Parts will post 8.09 earnings per share for the current 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 given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis 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.