Larson Financial Group LLC Buys 1,126 Shares of Genuine Parts (NYSE:GPC)

Larson Financial Group LLC grew its stake in shares of Genuine Parts (NYSE:GPC) by 66.8% in the third quarter, Holdings Channel reports. The fund owned 2,812 shares of the specialty retailer’s stock after acquiring an additional 1,126 shares during the quarter. Larson Financial Group LLC’s holdings in Genuine Parts were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the third quarter valued at $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $31,000. Concord Wealth Partners grew its stake in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares during the period. Triad Wealth Partners LLC purchased a new stake in Genuine Parts in the 2nd quarter worth about $40,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Genuine Parts in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 1.2 %

Genuine Parts stock opened at $127.88 on Wednesday. The stock has a market cap of $17.78 billion, a P/E ratio of 16.49 and a beta of 0.92. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm’s fifty day moving average price is $129.29 and its 200-day moving average price is $136.96. 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 results 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 business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the previous year, the business earned $2.49 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.13%. Genuine Parts’s payout ratio is presently 51.48%.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of research reports. UBS Group cut their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lowered their target price 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. JPMorgan Chase & Co. cut their price target 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, Truist Financial decreased their price objective 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. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.