Sawyer & Company Inc Has $1.43 Million Holdings in Genuine Parts (NYSE:GPC)

Sawyer & Company Inc increased its holdings in shares of Genuine Parts (NYSE:GPC) by 8.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,247 shares of the specialty retailer’s stock after acquiring an additional 795 shares during the period. Sawyer & Company Inc’s holdings in Genuine Parts were worth $1,431,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GPC. Quarry LP increased its holdings in shares of Genuine Parts by 138.7% during the 4th quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 165 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Genuine Parts by 28.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,775 shares of the specialty retailer’s stock valued at $384,000 after acquiring an additional 618 shares during the period. Sierra Summit Advisors LLC bought a new stake in shares of Genuine Parts during the 4th quarter worth $411,000. Virtu Financial LLC bought a new stake in shares of Genuine Parts during the 4th quarter worth $494,000. Finally, Richardson Financial Services Inc. acquired a new position in Genuine Parts in the 4th quarter worth about $145,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Genuine Parts stock traded up $3.80 during trading on Friday, reaching $137.24. The company had a trading volume of 864,529 shares, compared to its average volume of 959,706. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The firm’s 50-day simple moving average is $138.60 and its 200 day simple moving average is $143.63. The firm has a market capitalization of $19.12 billion, a price-to-earnings ratio of 15.30 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.44 EPS. Sell-side analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is presently 44.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GPC shares. The Goldman Sachs Group decreased their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. Evercore ISI cut their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, Wedbush decreased their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $161.14.

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.