Cantor Fitzgerald Investment Advisors L.P. Has $17 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Cantor Fitzgerald Investment Advisors L.P. lifted its position in Genuine Parts (NYSE:GPC) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,706 shares of the specialty retailer’s stock after buying an additional 858 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P. owned about 0.09% of Genuine Parts worth $17,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GPC. Concord Wealth Partners boosted its stake in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the period. Manchester Capital Management LLC lifted its position in Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after buying an additional 66 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of Genuine Parts in the second quarter worth about $40,000. Rosenberg Matthew Hamilton raised its position in Genuine Parts by 92.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock worth $50,000 after purchasing an additional 178 shares during the last quarter. Finally, Armstrong Advisory Group Inc. lifted its stake in shares of Genuine Parts by 63.8% during the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 141 shares during the period. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GPC shares. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Wedbush reduced their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Truist Financial lowered their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group cut their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $118.35 on Tuesday. The business has a 50-day moving average of $136.82 and a 200-day moving average of $141.88. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.54. The stock has a market capitalization of $16.49 billion, a price-to-earnings ratio of 13.19 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.49 earnings per share. As a group, sell-side analysts predict that Genuine Parts will post 8.1 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. Shareholders 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 yield of 3.38%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.