Larson Financial Group LLC Acquires 1,126 Shares of Genuine Parts (NYSE:GPC)

Larson Financial Group LLC lifted its holdings in Genuine Parts (NYSE:GPC) by 66.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,812 shares of the specialty retailer’s stock after acquiring an additional 1,126 shares during the period. Larson Financial Group LLC’s holdings in Genuine Parts were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GPC. Ashton Thomas Securities LLC acquired a new position in Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts in the third quarter worth $31,000. Concord Wealth Partners increased its stake in 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 purchasing an additional 119 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Genuine Parts during the second quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts during the 3rd quarter worth about $44,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GPC shares. UBS Group decreased their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Truist Financial cut their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Performance

NYSE GPC opened at $127.88 on Wednesday. The company has a fifty day moving average price of $129.29 and a 200-day moving average price of $136.96. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 16.49 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 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data 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 return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the previous year, the company posted $2.49 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.13%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Genuine Parts 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.