Daiwa Securities Group Inc. Purchases 312 Shares of Genuine Parts (NYSE:GPC)

Daiwa Securities Group Inc. boosted its position in shares of Genuine Parts (NYSE:GPC – Get Rating) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,527 shares of the specialty retailer’s stock after buying an additional 312 shares during the period. Daiwa Securities Group Inc.’s holdings in Genuine Parts were worth $1,423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Dupont Capital Management Corp lifted its stake in shares of Genuine Parts by 128.0% in the 3rd quarter. Dupont Capital Management Corp now owns 171 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Charter Oak Capital Management LLC bought a new stake in shares of Genuine Parts in the 2nd quarter valued at approximately $25,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $40,000. Pacer Advisors Inc. lifted its stake in shares of Genuine Parts by 28.0% in the 3rd quarter. Pacer Advisors Inc. now owns 288 shares of the specialty retailer’s stock valued at $43,000 after purchasing an additional 63 shares during the last quarter. Finally, Clear Street Markets LLC lifted its stake in shares of Genuine Parts by 410.3% in the 2nd quarter. Clear Street Markets LLC now owns 296 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 238 shares during the last quarter. 78.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GPC has been the subject of several analyst reports. StockNews.com raised Genuine Parts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 20th. The Goldman Sachs Group lowered Genuine Parts from a “neutral” rating to a “sell” rating and raised their price objective for the company from $124.00 to $147.00 in a research note on Monday, December 12th.

Genuine Parts Trading Up 0.2 %

Shares of NYSE GPC opened at $161.74 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.60 and a current ratio of 1.18. The business’s 50 day moving average price is $176.85 and its 200-day moving average price is $163.87. Genuine Parts has a fifty-two week low of $115.63 and a fifty-two week high of $187.73. The company has a market cap of $22.83 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.57 and a beta of 0.98.

Genuine Parts (NYSE:GPC – Get Rating) last issued its quarterly earnings results on Thursday, October 20th. The specialty retailer reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.20. Genuine Parts had a return on equity of 31.91% and a net margin of 5.55%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, sell-side analysts expect that Genuine Parts will post 8.16 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 2nd were issued a dividend of $0.895 per share. The ex-dividend date was Thursday, December 1st. This represents a $3.58 annualized dividend and a yield of 2.21%. Genuine Parts’s payout ratio is currently 42.98%.

Genuine Parts Profile

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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.