3,612 Shares in Genuine Parts (NYSE:GPC) Acquired by Titleist Asset Management LLC

Titleist Asset Management LLC purchased a new position in Genuine Parts (NYSE:GPC) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,612 shares of the specialty retailer’s stock, valued at approximately $604,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in GPC. OLD Mission Capital LLC bought a new stake in Genuine Parts during the fourth quarter worth about $28,000. Ten Capital Wealth Advisors LLC grew its holdings in shares of Genuine Parts by 1,308.3% during the 1st quarter. Ten Capital Wealth Advisors LLC now owns 169 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 157 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Genuine Parts by 42.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 60 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in Genuine Parts during the 4th quarter valued at about $35,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Genuine Parts during the first quarter valued at approximately $46,000. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Genuine Parts Trading Up 0.8 %

Genuine Parts stock opened at $148.47 on Thursday. Genuine Parts has a 12 month low of $145.30 and a 12 month high of $187.73. The company has a market capitalization of $20.85 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.83 and a beta of 0.90. The business’s fifty day simple moving average is $156.98 and its two-hundred day simple moving average is $161.69. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 0.73.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.10. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.96 billion. Genuine Parts had a net margin of 5.30% and a return on equity of 32.43%. Genuine Parts’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. As a group, equities analysts predict that Genuine Parts will post 9.24 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $3.80 dividend on an annualized basis and a yield of 2.56%. Genuine Parts’s payout ratio is currently 44.44%.

Analysts Set New Price Targets

A number of research firms have issued reports on GPC. Truist Financial decreased their price objective on shares of Genuine Parts from $195.00 to $191.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. StockNews.com began coverage on shares of Genuine Parts in a report on Thursday, August 17th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Genuine Parts from $190.00 to $184.00 and set an “overweight” rating on the stock in a research note on Friday, July 21st. Wedbush decreased their target price on Genuine Parts from $170.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, July 21st. Finally, Stephens dropped their price target on Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Friday, July 21st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Genuine Parts Company Profile

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, and individuals.