Tradewinds LLC. Increases Holdings in Genuine Parts (NYSE:GPC)

Tradewinds LLC. lifted its holdings in Genuine Parts (NYSE:GPC) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,530 shares of the specialty retailer’s stock after acquiring an additional 162 shares during the period. Tradewinds LLC.’s holdings in Genuine Parts were worth $353,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Miramar Capital LLC boosted its holdings in shares of Genuine Parts by 9.8% in the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after purchasing an additional 7,845 shares during the period. Conning Inc. lifted its position in Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after buying an additional 19,795 shares during the last quarter. WD Rutherford LLC boosted its stake in Genuine Parts by 4,265.9% during the third quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after buying an additional 7,252 shares during the period. Comerica Bank increased its position in Genuine Parts by 19.6% during the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after acquiring an additional 18,657 shares during the last quarter. Finally, Hamlin Capital Management LLC raised its stake in shares of Genuine Parts by 12.3% in the third quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock valued at $82,561,000 after acquiring an additional 64,520 shares during the period. 78.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on GPC shares. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group dropped their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group reduced their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, Wedbush cut their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average target price of $139.57.

Genuine Parts Trading Down 0.4 %

Shares of NYSE GPC opened at $120.76 on Thursday. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The firm has a market cap of $16.79 billion, a PE ratio of 15.54 and a beta of 0.92. The business has a fifty day simple moving average of $129.96 and a two-hundred day simple moving average of $137.71. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

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

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.31%. Genuine Parts’s dividend payout ratio is presently 51.48%.

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.