Genuine Parts (NYSE:GPC) Stock Position Lifted by Nilsine Partners LLC

Nilsine Partners LLC grew its position in Genuine Parts (NYSE:GPC) by 58.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,405 shares of the specialty retailer’s stock after acquiring an additional 888 shares during the quarter. Nilsine Partners LLC’s holdings in Genuine Parts were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Genuine Parts in the 2nd quarter worth about $69,000. Farther Finance Advisors LLC lifted its holdings in Genuine Parts by 106.6% in the second quarter. Farther Finance Advisors LLC now owns 1,731 shares of the specialty retailer’s stock worth $232,000 after acquiring an additional 893 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Genuine Parts during the second quarter valued at approximately $2,873,000. Banque Cantonale Vaudoise acquired a new stake in shares of Genuine Parts during the 2nd quarter worth approximately $414,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Genuine Parts by 8.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 83,348 shares of the specialty retailer’s stock worth $11,529,000 after purchasing an additional 6,810 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GPC. The Goldman Sachs Group dropped their target price on 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 cut 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 report on Wednesday, July 3rd. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Thursday. Wedbush cut their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Truist Financial reissued a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $161.14.

Genuine Parts Price Performance

Shares of NYSE:GPC traded up $0.98 during trading on Friday, reaching $143.26. The company had a trading volume of 821,937 shares, compared to its average volume of 683,963. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The firm has a market capitalization of $19.96 billion, a PE ratio of 15.97 and a beta of 0.92. The firm’s fifty day moving average is $139.05 and its 200 day moving average is $146.24. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly 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). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the firm posted $2.44 earnings per share. Genuine Parts’s revenue was up .8% compared to the same quarter last year. On average, equities analysts forecast that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.79%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Genuine Parts 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.