Danske Bank A S acquired a new stake in Genuine Parts Company (NYSE:GPC – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,317 shares of the specialty retailer’s stock, valued at approximately $3,341,000.
Several other large investors also recently modified their holdings of the business. United Asset Strategies Inc. boosted its holdings in Genuine Parts by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,492 shares of the specialty retailer’s stock valued at $552,000 after purchasing an additional 72 shares during the last quarter. IHT Wealth Management LLC grew its stake in Genuine Parts by 1.8% during the 4th quarter. IHT Wealth Management LLC now owns 4,644 shares of the specialty retailer’s stock valued at $571,000 after purchasing an additional 83 shares in the last quarter. Oakworth Capital Inc. increased its holdings in Genuine Parts by 1.9% during the 4th quarter. Oakworth Capital Inc. now owns 4,680 shares of the specialty retailer’s stock worth $575,000 after purchasing an additional 88 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Genuine Parts by 34.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 341 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 88 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its position in shares of Genuine Parts by 13.8% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 727 shares of the specialty retailer’s stock valued at $86,000 after purchasing an additional 88 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.
Genuine Parts Price Performance
Shares of GPC opened at $134.03 on Friday. Genuine Parts Company has a 52 week low of $90.78 and a 52 week high of $151.57. The company has a current ratio of 1.16, a quick ratio of 0.50 and a debt-to-equity ratio of 0.88. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of 536.12 and a beta of 0.63. The stock has a 50 day moving average of $124.05 and a 200-day moving average of $115.34.
Genuine Parts Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, September 4th. Genuine Parts’s dividend payout ratio is 1,700.00%.
Wall Street Analysts Forecast Growth
GPC has been the subject of several research analyst reports. Evercore reiterated an “outperform” rating on shares of Genuine Parts in a research note on Wednesday, July 22nd. Zacks Research upgraded shares of Genuine Parts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Truist Financial upped their price target on shares of Genuine Parts from $124.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. DA Davidson increased their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $165.00 price objective on shares of Genuine Parts in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.86.
Get Our Latest Stock Analysis on GPC
Genuine Parts Profile
Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.
Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.
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