Genuine Parts Company $GPC Position Boosted by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC boosted its stake in Genuine Parts Company (NYSE:GPC) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,276 shares of the specialty retailer’s stock after purchasing an additional 4,370 shares during the period. Soltis Investment Advisors LLC owned about 0.05% of Genuine Parts worth $9,339,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Compass Wealth Management LLC bought a new position in Genuine Parts in the 3rd quarter worth $25,000. Elevation Wealth Partners LLC boosted its stake in shares of Genuine Parts by 510.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 235 shares in the last quarter. Latitude Advisors LLC bought a new stake in shares of Genuine Parts during the 3rd quarter valued at about $37,000. EFG International AG bought a new stake in shares of Genuine Parts during the 2nd quarter valued at about $36,000. Finally, Clearstead Trust LLC purchased a new position in shares of Genuine Parts during the second quarter valued at about $48,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC opened at $122.36 on Friday. The stock has a market cap of $16.87 billion, a PE ratio of 489.46, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.54 and a current ratio of 1.22. Genuine Parts Company has a fifty-two week low of $90.78 and a fifty-two week high of $151.57. The firm’s 50-day simple moving average is $130.33 and its two-hundred day simple moving average is $120.29.

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

Genuine Parts Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GPC shares. The Goldman Sachs Group set a $122.00 target price on Genuine Parts in a research report on Tuesday, October 20th. JPMorgan Chase & Co. lifted their price target on Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, September 21st. Argus decreased their price objective on Genuine Parts from $156.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Finally, Evercore reiterated an “outperform” rating on shares of Genuine Parts in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company 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.