Genuine Parts (NYSE:GPC) Stock Position Decreased by Bank of America Corp DE

Bank of America Corp DE trimmed its position in Genuine Parts (NYSE:GPCGet Rating) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,360,473 shares of the specialty retailer’s stock after selling 99,535 shares during the quarter. Bank of America Corp DE owned about 0.96% of Genuine Parts worth $171,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GPC. Royce & Associates LP raised its stake in Genuine Parts by 41.0% during the 1st quarter. Royce & Associates LP now owns 27,500 shares of the specialty retailer’s stock valued at $3,466,000 after purchasing an additional 8,000 shares during the last quarter. Cooper Financial Group increased its holdings in Genuine Parts by 40.4% in the 1st quarter. Cooper Financial Group now owns 2,058 shares of the specialty retailer’s stock valued at $259,000 after buying an additional 592 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC increased its holdings in Genuine Parts by 12.6% in the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 947 shares of the specialty retailer’s stock valued at $119,000 after buying an additional 106 shares during the period. Veritable L.P. increased its holdings in Genuine Parts by 16.6% in the 1st quarter. Veritable L.P. now owns 4,695 shares of the specialty retailer’s stock valued at $592,000 after buying an additional 667 shares during the period. Finally, Simmons Bank grew its holdings in shares of Genuine Parts by 45.1% in the 1st quarter. Simmons Bank now owns 12,931 shares of the specialty retailer’s stock worth $1,629,000 after purchasing an additional 4,018 shares during the last quarter. 78.27% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Genuine Parts stock opened at $155.60 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Genuine Parts has a 1 year low of $115.63 and a 1 year high of $164.99. The company has a market cap of $22.01 billion, a PE ratio of 20.16, a PEG ratio of 1.99 and a beta of 0.97. The company’s 50-day moving average is $153.57 and its two-hundred day moving average is $139.38.

Genuine Parts (NYSE:GPCGet Rating) last released its earnings results on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. Genuine Parts had a net margin of 5.38% and a return on equity of 31.67%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the prior year, the company posted $1.74 EPS. The company’s revenue was up 17.1% compared to the same quarter last year. Equities analysts anticipate that Genuine Parts will post 7.97 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 1st. Genuine Parts’s dividend payout ratio is currently 46.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Genuine Parts from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 17th. Wedbush increased their price objective on shares of Genuine Parts from $140.00 to $150.00 in a report on Thursday, July 28th. Finally, Evercore ISI decreased their price objective on shares of Genuine Parts to $135.00 in a report on Thursday, June 9th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $140.20.

Genuine Parts Profile

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Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

See Also

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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