Genuine Parts (NYSE:GPC) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance raised its position in Genuine Parts (NYSE:GPC) by 2.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,994 shares of the specialty retailer’s stock after purchasing an additional 492 shares during the period. Independent Advisor Alliance’s holdings in Genuine Parts were worth $2,793,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts during the third quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts during the third quarter valued at $31,000. Concord Wealth Partners boosted its stake in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Genuine Parts during the second quarter valued at $40,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts during the third quarter valued at $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Genuine Parts stock opened at $129.54 on Tuesday. The stock’s 50-day moving average is $129.29 and its 200-day moving average is $136.96. The company has a market cap of $18.01 billion, a price-to-earnings ratio of 16.67 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the business 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 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business 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. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.09%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group reduced 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. Truist Financial reduced their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI increased their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus 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.