Eagle Strategies LLC Makes New $711,000 Investment in Genuine Parts (NYSE:GPC)

Eagle Strategies LLC bought a new stake in shares of Genuine Parts (NYSE:GPC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,137 shares of the specialty retailer’s stock, valued at approximately $711,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GPC. Stifel Financial Corp lifted its position in Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares during the period. Norges Bank bought a new position in shares of Genuine Parts in the 4th quarter worth about $215,643,000. Dimensional Fund Advisors LP lifted its position in Genuine Parts by 13.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,081,344 shares of the specialty retailer’s stock valued at $149,766,000 after acquiring an additional 129,472 shares during the period. Morningstar Investment Services LLC boosted its stake in Genuine Parts by 161.2% during the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after acquiring an additional 357,091 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in Genuine Parts by 0.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 545,249 shares of the specialty retailer’s stock worth $75,517,000 after purchasing an additional 4,436 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.5 %

Genuine Parts stock opened at $135.05 on Thursday. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The stock has a fifty day simple moving average of $139.23 and a two-hundred day simple moving average of $145.90. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The firm has a market cap of $18.81 billion, a price-to-earnings ratio of 15.06 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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 in the previous year, the business posted $2.44 earnings per share. Genuine Parts’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts predict that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.96%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analyst Ratings Changes

Several research firms have recently issued reports on GPC. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Wedbush lowered their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Truist Financial reissued a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. UBS Group reduced their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $161.14.

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.