Genuine Parts Company $GPC Stock Acquired by Pinkerton Wealth LLC

Pinkerton Wealth LLC lifted its position in Genuine Parts Company (NYSE:GPC) by 12.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,495 shares of the specialty retailer’s stock after buying an additional 5,328 shares during the quarter. Pinkerton Wealth LLC’s holdings in Genuine Parts were worth $6,098,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GPC. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Genuine Parts by 85.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,262 shares of the specialty retailer’s stock worth $3,200,000 after acquiring an additional 13,900 shares in the last quarter. Paradiem LLC purchased a new position in Genuine Parts in the first quarter valued at $3,154,000. Montag A & Associates Inc. grew its stake in Genuine Parts by 19.6% during the 1st quarter. Montag A & Associates Inc. now owns 64,855 shares of the specialty retailer’s stock worth $6,923,000 after purchasing an additional 10,622 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Genuine Parts by 19.5% during the 4th quarter. Hsbc Holdings PLC now owns 477,970 shares of the specialty retailer’s stock worth $58,887,000 after purchasing an additional 77,936 shares during the period. Finally, SteelPeak Wealth LLC raised its position in Genuine Parts by 61.3% in the 1st quarter. SteelPeak Wealth LLC now owns 26,671 shares of the specialty retailer’s stock valued at $2,848,000 after purchasing an additional 10,141 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial lifted their price objective on Genuine Parts from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. DA Davidson upped their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. The Goldman Sachs Group set a $122.00 target price on shares of Genuine Parts in a report on Tuesday, October 20th. Evercore reiterated an “outperform” rating on shares of Genuine Parts in a research note on Wednesday, July 22nd. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $165.00 price target on shares of Genuine Parts in a report on Wednesday, July 22nd. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Genuine Parts Stock Down 0.1%

GPC stock opened at $120.76 on Monday. The stock has a market cap of $16.65 billion, a P/E ratio of 483.04, a PEG ratio of 2.65 and a beta of 0.65. The company has a current ratio of 1.22, a quick ratio of 0.54 and a debt-to-equity ratio of 0.96. Genuine Parts Company has a twelve month low of $90.78 and a twelve month high of $151.57. The company’s 50 day moving average is $130.10 and its two-hundred day moving average is $120.25.

Genuine Parts (NYSE:GPC) last issued 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 business had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter in the prior year, the business posted $1.98 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts expect that Genuine Parts Company will post 7.62 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

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

Genuine Parts Company Profile

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.