Verity & Verity LLC Increases Position in Genuine Parts (NYSE:GPC)

Verity & Verity LLC grew its holdings in shares of Genuine Parts (NYSE:GPC) by 2.7% in the third quarter, Holdings Channel reports. The institutional investor owned 95,274 shares of the specialty retailer’s stock after purchasing an additional 2,532 shares during the period. Verity & Verity LLC’s holdings in Genuine Parts were worth $13,308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GPC. First Citizens Bank & Trust Co. lifted its stake in shares of Genuine Parts by 4.9% during the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after buying an additional 75 shares during the period. Dover Advisors LLC grew its stake in Genuine Parts by 5.1% during the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after buying an additional 85 shares during the period. Metis Global Partners LLC boosted its position in Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after purchasing an additional 85 shares during the period. Blackhawk Capital Partners LLC. raised its holdings in shares of Genuine Parts by 1.3% during the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock valued at $940,000 after buying an additional 86 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in shares of Genuine Parts by 3.0% during the second quarter. Valeo Financial Advisors LLC now owns 3,173 shares of the specialty retailer’s stock valued at $439,000 after purchasing an additional 92 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GPC. Wedbush lowered their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased 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. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Evercore ISI upped their target price 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. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Price Performance

Shares of GPC opened at $124.18 on Tuesday. The business’s 50-day moving average is $130.54 and its 200-day moving average is $138.08. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a market capitalization of $17.27 billion, a price-to-earnings ratio of 15.98 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 (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the firm earned $2.49 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

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.