Silver Lake Advisory LLC Purchases 1,226 Shares of Genuine Parts (NYSE:GPC)

Silver Lake Advisory LLC increased its holdings in shares of Genuine Parts (NYSE:GPC) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,796 shares of the specialty retailer’s stock after acquiring an additional 1,226 shares during the period. Silver Lake Advisory LLC’s holdings in Genuine Parts were worth $4,536,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Assetmark Inc. grew its holdings in Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares during the last quarter. WD Rutherford LLC bought a new position in Genuine Parts in the 1st quarter valued at $26,000. Union Savings Bank increased its stake in shares of Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 100 shares during the period. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts during the first quarter worth $35,000. Finally, Stephens Consulting LLC lifted its stake in shares of Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on GPC shares. The Goldman Sachs Group cut their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. UBS Group reduced their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Wedbush dropped their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Truist Financial restated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, Evercore ISI dropped their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Trading Down 0.2 %

NYSE GPC opened at $141.24 on Friday. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The firm has a market cap of $19.67 billion, a P/E ratio of 15.75 and a beta of 0.90. The stock’s 50-day moving average is $139.60 and its 200-day moving average is $144.87.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $2.44 earnings per share. Sell-side analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s payout ratio is presently 44.59%.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: 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 equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.