2,000 Shares in Genuine Parts (NYSE:GPC) Purchased by West Tower Group LLC

West Tower Group LLC acquired a new position in Genuine Parts (NYSE:GPC) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 2,000 shares of the specialty retailer’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Genuine Parts in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts in the 3rd quarter valued at about $31,000. Concord Wealth Partners lifted its holdings in Genuine Parts by 79.3% in 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 in the last quarter. Triad Wealth Partners LLC purchased a new position in Genuine Parts in the 2nd quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Genuine Parts in the 3rd quarter valued at about $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GPC has been the topic of a number of recent research reports. Wedbush reduced their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial dropped their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Up 3.8 %

GPC opened at $129.54 on Tuesday. The firm has a 50 day moving average price of $129.29 and a 200 day moving average price of $136.96. The company has a market cap of $18.01 billion, a PE ratio of 16.67 and a beta of 0.92. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

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). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $2.49 EPS. Sell-side analysts expect that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.