Brown Brothers Harriman & Co. Has $810,000 Stock Position in Genuine Parts (NYSE:GPC)

Brown Brothers Harriman & Co. cut its holdings in shares of Genuine Parts (NYSE:GPC) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,797 shares of the specialty retailer’s stock after selling 240 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Genuine Parts were worth $810,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GPC. Ashton Thomas Securities LLC acquired a new position in Genuine Parts during the 3rd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the third quarter valued at about $31,000. Concord Wealth Partners lifted its stake in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the period. Triad Wealth Partners LLC acquired a new stake in Genuine Parts during the second quarter worth about $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in Genuine Parts during the third quarter valued at about $44,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

NYSE GPC opened at $127.88 on Wednesday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a 50 day moving average of $129.29 and a 200-day moving average of $136.96. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 16.46 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 net margin of 4.67% and a return on equity of 27.23%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.49 earnings per share. On average, equities analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.13%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Wall Street Analyst Weigh In

A number of analysts have commented on GPC shares. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average 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.