Diversified Trust Co Boosts Holdings in Genuine Parts (NYSE:GPC)

Diversified Trust Co boosted its position in shares of Genuine Parts (NYSE:GPC) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,501 shares of the specialty retailer’s stock after purchasing an additional 287 shares during the quarter. Diversified Trust Co’s holdings in Genuine Parts were worth $489,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gamco Investors INC. ET AL raised its stake in shares of Genuine Parts by 0.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 545,249 shares of the specialty retailer’s stock worth $75,517,000 after purchasing an additional 4,436 shares during the last quarter. Occudo Quantitative Strategies LP boosted its holdings in shares of Genuine Parts by 118.3% during the 4th quarter. Occudo Quantitative Strategies LP now owns 31,246 shares of the specialty retailer’s stock valued at $4,328,000 after acquiring an additional 16,933 shares during the last quarter. Optimist Retirement Group LLC bought a new stake in shares of Genuine Parts in the fourth quarter worth approximately $1,432,000. Clarity Asset Management Inc. purchased a new position in shares of Genuine Parts during the fourth quarter valued at approximately $73,000. Finally, Taylor Financial Group Inc. bought a new position in Genuine Parts during the fourth quarter valued at approximately $573,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

NYSE GPC opened at $133.44 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 14.88 and a beta of 0.90. The company’s 50 day moving average is $138.71 and its two-hundred day moving average is $143.81.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter last year, the firm posted $2.44 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.00%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Analyst Ratings Changes

A number of brokerages have weighed in on GPC. Evercore ISI decreased their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. UBS Group dropped their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial restated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $161.14.

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.