Harvest Investment Advisors LLC Has $1.49 Million Position in Genuine Parts (NYSE:GPC)

Harvest Investment Advisors LLC boosted its stake in Genuine Parts (NYSE:GPC) by 17.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,656 shares of the specialty retailer’s stock after purchasing an additional 1,615 shares during the quarter. Harvest Investment Advisors LLC’s holdings in Genuine Parts were worth $1,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Miramar Capital LLC increased its stake in Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after purchasing an additional 7,845 shares in the last quarter. Conning Inc. raised its position in Genuine Parts by 8.2% in the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after buying an additional 19,795 shares during the last quarter. WD Rutherford LLC lifted its stake in Genuine Parts by 4,265.9% during the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock valued at $1,037,000 after acquiring an additional 7,252 shares in the last quarter. Hamlin Capital Management LLC grew its stake in shares of Genuine Parts by 12.3% in the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after acquiring an additional 64,520 shares in the last quarter. Finally, Jensen Investment Management Inc. raised its holdings in shares of Genuine Parts by 13.7% in the third quarter. Jensen Investment Management Inc. now owns 48,430 shares of the specialty retailer’s stock valued at $6,765,000 after purchasing an additional 5,840 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Down 1.0 %

GPC stock opened at $123.42 on Monday. The company has a market capitalization of $17.16 billion, a PE ratio of 15.88 and a beta of 0.94. The company’s 50 day moving average price is $127.03 and its two-hundred day moving average price is $135.22. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

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

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.24%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Analyst Upgrades and Downgrades

GPC has been the topic of several analyst reports. Wedbush cut their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $139.57.

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.