5,328 Genuine Parts Company $GPC Shares Purchased by Pinkerton Wealth LLC

Pinkerton Wealth LLC raised its position in Genuine Parts Company (NYSE:GPC) by 12.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 48,495 shares of the specialty retailer’s stock after purchasing an additional 5,328 shares during the period. Pinkerton Wealth LLC’s holdings in Genuine Parts were worth $6,098,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPC. BlackRock Inc. acquired a new stake in shares of Genuine Parts in the second quarter valued at about $1,574,910,000. Bank of America Corp DE purchased a new stake in Genuine Parts during the 2nd quarter valued at about $201,072,000. Corient Private Wealth LP purchased a new stake in Genuine Parts during the 2nd quarter valued at about $3,903,000. Cullen Capital Management LLC acquired a new stake in Genuine Parts in the 2nd quarter valued at about $166,471,000. Finally, Equity Investment Corp purchased a new position in Genuine Parts in the 2nd quarter worth approximately $114,922,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.1%

Shares of Genuine Parts stock opened at $120.76 on Monday. The stock has a 50 day moving average of $130.10 and a 200 day moving average of $120.25. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.54 and a current ratio of 1.22. The firm has a market capitalization of $16.65 billion, a price-to-earnings ratio of 483.04, a PEG ratio of 2.65 and a beta of 0.65. Genuine Parts Company has a fifty-two week low of $90.78 and a fifty-two week high of $151.57.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.03. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. The company had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter in the previous year, the business earned $1.98 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts predict that Genuine Parts Company will post 7.62 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 4th were given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, September 4th. Genuine Parts’s dividend payout ratio (DPR) is presently 1,700.00%.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of analyst reports. DA Davidson upped their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. UBS Group boosted their price objective on Genuine Parts from $122.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. The Goldman Sachs Group set a $122.00 price objective on Genuine Parts in a research note on Tuesday, October 20th. Raymond James Financial restated a “strong-buy” rating and issued a $165.00 target price on shares of Genuine Parts in a report on Wednesday, July 22nd. Finally, Truist Financial raised their target price on Genuine Parts from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

About Genuine Parts

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.