5,791 Genuine Parts Company $GPC Shares Acquired by True Freedom Investing LLC

True Freedom Investing LLC increased its stake in shares of Genuine Parts Company (NYSE:GPC) by 13.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,728 shares of the specialty retailer’s stock after acquiring an additional 5,791 shares during the period. True Freedom Investing LLC’s holdings in Genuine Parts were worth $6,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GPC. Compass Wealth Management LLC bought a new stake in Genuine Parts in the third quarter valued at approximately $25,000. Elevation Wealth Partners LLC lifted its position in shares of Genuine Parts by 510.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer’s stock valued at $33,000 after acquiring an additional 235 shares during the period. EFG International AG bought a new position in Genuine Parts in the 2nd quarter valued at about $36,000. Latitude Advisors LLC acquired a new position in Genuine Parts during the third quarter valued at approximately $37,000. Finally, Fiduciary Financial Advisors acquired a new stake in Genuine Parts in the second quarter valued at about $47,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

GPC stock opened at $120.76 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.22 and a quick ratio of 0.54. The company’s 50-day moving average is $130.10 and its 200-day moving average is $120.25. The stock has a market capitalization of $16.65 billion, a PE ratio of 483.04, a price-to-earnings-growth ratio of 2.65 and a beta of 0.65. Genuine Parts Company has a 1 year low of $90.78 and a 1 year high of $151.57.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.03. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same period in the previous year, the company posted $1.98 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts expect that Genuine Parts Company will post 7.62 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, September 4th. Genuine Parts’s dividend payout ratio (DPR) is currently 1,700.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GPC. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, September 21st. UBS Group upped their price target on shares of Genuine Parts from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. DA Davidson increased their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group set a $122.00 price objective on Genuine Parts in a report on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

About Genuine Parts

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.