Ellsworth Advisors LLC Grows Stake in Genuine Parts (NYSE:GPC)

Ellsworth Advisors LLC lifted its stake in Genuine Parts (NYSE:GPC) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,092 shares of the specialty retailer’s stock after buying an additional 314 shares during the period. Ellsworth Advisors LLC’s holdings in Genuine Parts were worth $4,483,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wulff Hansen & CO. lifted its position in Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after acquiring an additional 1,555,149 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Genuine Parts by 3,029.9% during the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after purchasing an additional 368,470 shares in the last quarter. Natixis lifted its position in shares of Genuine Parts by 768.4% during the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after purchasing an additional 279,930 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in shares of Genuine Parts by 1,457.3% in the first quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock valued at $41,825,000 after purchasing an additional 252,626 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Genuine Parts by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after purchasing an additional 239,858 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.3 %

NYSE:GPC opened at $143.64 on Friday. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The company has a market cap of $20.01 billion, a PE ratio of 16.01 and a beta of 0.90. The business’s 50 day moving average is $138.85 and its two-hundred day moving average is $143.34.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. On average, analysts predict that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.78%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of recent analyst reports. Truist Financial reiterated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. Wedbush cut their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday. UBS Group cut their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. increased their target price on Genuine Parts from $157.00 to $162.00 and gave the company an “overweight” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $157.29.

Genuine Parts Company Profile

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.