Schwartz Investment Counsel Inc. reduced its position in Genuine Parts Company (NYSE:GPC – Free Report) by 33.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,500 shares of the specialty retailer’s stock after selling 112,250 shares during the period. Schwartz Investment Counsel Inc. owned 0.17% of Genuine Parts worth $28,606,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its stake in Genuine Parts by 2.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 16,253 shares of the specialty retailer’s stock worth $2,044,000 after acquiring an additional 350 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Genuine Parts by 19.8% during the 3rd quarter. Park Avenue Securities LLC now owns 4,162 shares of the specialty retailer’s stock valued at $523,000 after acquiring an additional 688 shares during the last quarter. Apollon Wealth Management LLC boosted its position in shares of Genuine Parts by 5.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,814 shares of the specialty retailer’s stock valued at $354,000 after acquiring an additional 143 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Genuine Parts by 6.0% during the 3rd quarter. Sigma Planning Corp now owns 4,978 shares of the specialty retailer’s stock valued at $626,000 after acquiring an additional 283 shares during the last quarter. Finally, Probity Advisors Inc. grew its holdings in shares of Genuine Parts by 3.6% in the third quarter. Probity Advisors Inc. now owns 9,288 shares of the specialty retailer’s stock valued at $1,168,000 after purchasing an additional 323 shares in the last quarter. 78.83% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
GPC has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Genuine Parts from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Truist Financial increased their price objective on shares of Genuine Parts from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Tuesday, October 20th. UBS Group lifted their price objective on shares of Genuine Parts from $122.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Argus dropped their price objective on shares of Genuine Parts from $156.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Finally, The Goldman Sachs Group set a $122.00 target price on shares of Genuine Parts in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.00.
View Our Latest Stock Report on GPC
Genuine Parts Stock Down 1.2%
NYSE:GPC opened at $121.75 on Wednesday. The business has a 50 day simple moving average of $130.79 and a 200-day simple moving average of $120.35. Genuine Parts Company has a 1 year low of $90.78 and a 1 year high of $151.57.
Genuine Parts (NYSE:GPC – Get Free Report) last released its earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.03. The company had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same period in the prior year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts anticipate that Genuine Parts Company will post 7.62 EPS for the current fiscal year.
Genuine Parts Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 4th were given a dividend of $1.0625 per share. The ex-dividend date was Friday, September 4th. This represents a $4.25 dividend on an annualized basis and a yield of 3.5%.
Genuine Parts Company Profile
Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.
The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.
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