Cerity Partners LLC Acquires 1,316 Shares of Genuine Parts (NYSE:GPC)

Cerity Partners LLC lifted its holdings in Genuine Parts (NYSE:GPC) by 0.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 197,953 shares of the specialty retailer’s stock after acquiring an additional 1,316 shares during the quarter. Cerity Partners LLC owned 0.14% of Genuine Parts worth $27,650,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Genuine Parts in the third quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the 3rd quarter valued at about $31,000. Concord Wealth Partners lifted its stake in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Genuine Parts during the 2nd quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in Genuine Parts during the 3rd quarter worth approximately $44,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

GPC stock opened at $124.80 on Monday. The firm has a 50-day moving average of $129.44 and a 200 day moving average of $137.14. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a market cap of $17.35 billion, a P/E ratio of 16.06 and a beta of 0.92. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

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

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.21%. Genuine Parts’s payout ratio is currently 51.48%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GPC shares. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Truist Financial cut their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Company 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.