Genuine Parts (NYSE:GPC) Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. raised its stake in Genuine Parts (NYSE:GPC) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,141 shares of the specialty retailer’s stock after purchasing an additional 2,581 shares during the period. D.A. Davidson & CO.’s holdings in Genuine Parts were worth $6,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings 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 worth $29,891,000 after acquiring an additional 1,127 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Genuine Parts by 70.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 12,537 shares of the specialty retailer’s stock worth $1,822,000 after purchasing an additional 5,198 shares in the last quarter. California State Teachers Retirement System increased its holdings in Genuine Parts by 1.0% in the first quarter. California State Teachers Retirement System now owns 229,176 shares of the specialty retailer’s stock valued at $35,506,000 after buying an additional 2,328 shares during the last quarter. Tidal Investments LLC raised its stake in Genuine Parts by 63.8% in the first quarter. Tidal Investments LLC now owns 11,866 shares of the specialty retailer’s stock valued at $1,838,000 after buying an additional 4,620 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Genuine Parts by 19.6% during the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after buying an additional 18,657 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of 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 one year low of $112.74 and a one year high of $164.45. The company has a 50-day simple moving average of $129.10 and a 200-day simple moving average of $136.76. The stock has a market capitalization of $17.64 billion, a price-to-earnings ratio of 16.33 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period in the previous year, the business posted $2.49 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GPC. The Goldman Sachs Group cut their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Wedbush cut their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. UBS Group lowered their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Genuine Parts presently has a consensus 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.