Genuine Parts (NYSE:GPC) Shares Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC lifted its position in Genuine Parts (NYSE:GPC – Get Rating) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,682 shares of the specialty retailer’s stock after acquiring an additional 368 shares during the quarter. IHT Wealth Management LLC’s holdings in Genuine Parts were worth $550,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GPC. WD Rutherford LLC bought a new stake in Genuine Parts during the third quarter valued at $25,000. Dupont Capital Management Corp raised its stake in Genuine Parts by 128.0% during the third quarter. Dupont Capital Management Corp now owns 171 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 96 shares during the period. BDO Wealth Advisors LLC lifted its holdings in Genuine Parts by 113.2% in the third quarter. BDO Wealth Advisors LLC now owns 226 shares of the specialty retailer’s stock worth $34,000 after acquiring an additional 120 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new position in Genuine Parts in the third quarter worth about $40,000. Finally, Fred Alger Management LLC acquired a new position in Genuine Parts in the third quarter valued at approximately $42,000. 78.14% of the stock is currently owned by institutional investors.

Genuine Parts Trading Down 1.6 %

NYSE:GPC opened at $162.07 on Friday. Genuine Parts has a 1 year low of $124.85 and a 1 year high of $187.73. The business has a fifty day moving average of $169.98 and a 200-day moving average of $169.54. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.15. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.82 and a beta of 0.90.

Genuine Parts (NYSE:GPC – Get Rating) last released its earnings results on Thursday, February 23rd. The specialty retailer reported $2.05 EPS for the quarter, beating the consensus estimate of $1.90 by $0.15. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Genuine Parts had a net margin of 5.35% and a return on equity of 32.22%. Genuine Parts’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $1.79 EPS. Equities analysts predict that Genuine Parts will post 8.93 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be paid a dividend of $0.95 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.90. This represents a $3.80 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, March 2nd. Genuine Parts’s dividend payout ratio (DPR) is presently 45.73%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Genuine Parts from $147.00 to $157.00 and gave the stock a “sell” rating in a report on Thursday, February 23rd. StockNews.com started coverage on shares of Genuine Parts in a report on Thursday. They set a “buy” rating for the company. Truist Financial increased their price objective on shares of Genuine Parts from $170.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, February 24th. Finally, Wedbush reissued a “neutral” rating on shares of Genuine Parts in a research note on Friday, February 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $152.20.

Genuine Parts Company 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.