True Freedom Investing LLC boosted its position in Genuine Parts Company (NYSE:GPC – Free Report) by 13.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,728 shares of the specialty retailer’s stock after buying an additional 5,791 shares during the quarter. True Freedom Investing LLC’s holdings in Genuine Parts were worth $6,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also bought and sold shares of the company. Compass Wealth Management LLC purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $25,000. Elevation Wealth Partners LLC grew its stake in shares of Genuine Parts by 510.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer’s stock worth $33,000 after acquiring an additional 235 shares during the period. EFG International AG bought a new position in shares of Genuine Parts during the 2nd quarter worth $36,000. Latitude Advisors LLC purchased a new stake in Genuine Parts in the 3rd quarter worth about $37,000. Finally, Fiduciary Financial Advisors purchased a new stake in Genuine Parts in the 2nd quarter worth about $47,000. 78.83% of the stock is owned by hedge funds and other institutional investors.
Genuine Parts Stock Down 0.1%
GPC stock opened at $120.76 on Monday. The company has a quick ratio of 0.54, a current ratio of 1.22 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $16.65 billion, a PE ratio of 483.04, a PEG ratio of 2.65 and a beta of 0.65. Genuine Parts Company has a twelve month low of $90.78 and a twelve month high of $151.57. The stock has a 50-day simple moving average of $130.10 and a two-hundred day simple moving average of $120.25.
Genuine Parts (NYSE:GPC – Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The specialty retailer reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.03. Genuine Parts had a net margin of 0.12% and a return on equity of 23.00%. The company had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same period last year, the business earned $1.98 earnings per share. Genuine Parts’s revenue was up 4.2% compared to the same quarter last year. On average, equities analysts predict that Genuine Parts Company will post 7.62 EPS for the current fiscal year.
Genuine Parts Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 4th were paid a $1.0625 dividend. The ex-dividend date was Friday, September 4th. This represents a $4.25 annualized dividend and a yield of 3.5%. Genuine Parts’s dividend payout ratio is currently 1,700.00%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Argus cut their target price on shares of Genuine Parts from $156.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Raymond James Financial reiterated a “strong-buy” rating and issued a $165.00 target price on shares of Genuine Parts in a research note on Wednesday, July 22nd. UBS Group boosted their price target on shares of Genuine Parts from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Finally, The Goldman Sachs Group set a $122.00 price target on shares of Genuine Parts in a research note 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 issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.00.
Get Our Latest Stock Analysis on Genuine Parts
About Genuine Parts
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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