Genuine Parts (NYSE:GPC) Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Genuine Parts (NYSE:GPC) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,840,807 shares of the specialty retailer’s stock after acquiring an additional 114,180 shares during the period. JPMorgan Chase & Co. owned 1.32% of Genuine Parts worth $257,124,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Metis Global Partners LLC grew its stake in Genuine Parts by 1.9% in the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after purchasing an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC grew its stake in shares of Genuine Parts by 2.7% in the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after buying an additional 91 shares in the last quarter. Marco Investment Management LLC increased its holdings in Genuine Parts by 1.2% in the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after buying an additional 91 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Genuine Parts by 4.5% during the second quarter. Parkside Financial Bank & Trust now owns 2,216 shares of the specialty retailer’s stock valued at $307,000 after acquiring an additional 95 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its stake in Genuine Parts by 1.4% in the second quarter. Pinnacle West Asset Management Inc. now owns 6,705 shares of the specialty retailer’s stock valued at $927,000 after acquiring an additional 95 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GPC. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Truist Financial lowered their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Wedbush lowered their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Trading Down 1.0 %

Shares of Genuine Parts stock opened at $115.82 on Tuesday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company’s fifty day simple moving average is $121.23 and its 200-day simple moving average is $132.64. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 14.91 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the previous year, the firm posted $2.49 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Genuine Parts Company Profile

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.