King Luther Capital Management Corp Raises Stock Holdings in Genuine Parts (NYSE:GPC)

King Luther Capital Management Corp lifted its position in shares of Genuine Parts (NYSE:GPC) by 1.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 9,808 shares of the specialty retailer’s stock after buying an additional 122 shares during the period. King Luther Capital Management Corp’s holdings in Genuine Parts were worth $1,370,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Citizens Financial Group Inc. RI grew its holdings in Genuine Parts by 2.8% in the third quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after purchasing an additional 103 shares during the period. Advisors Asset Management Inc. increased its position in Genuine Parts by 11.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 53,526 shares of the specialty retailer’s stock worth $7,477,000 after purchasing an additional 5,567 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Genuine Parts during the 3rd quarter valued at $297,000. PNC Financial Services Group Inc. grew its stake in shares of Genuine Parts by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 114,379 shares of the specialty retailer’s stock valued at $15,976,000 after buying an additional 2,021 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Genuine Parts in the 3rd quarter worth approximately $1,407,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented 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 decreased their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Truist Financial decreased their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group lowered their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Trading Up 1.7 %

NYSE:GPC opened at $124.80 on Friday. The stock has a market cap of $17.35 billion, a price-to-earnings ratio of 16.06 and a beta of 0.92. 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 has a 1 year low of $112.74 and a 1 year high of $164.45. The business has a fifty day moving average of $129.44 and a 200-day moving average of $137.26.

Genuine Parts (NYSE:GPC) last announced 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). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the prior year, the company earned $2.49 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.21%. Genuine Parts’s dividend payout ratio (DPR) is 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.