Inspire Advisors LLC Purchases 601 Shares of Genuine Parts (NYSE:GPC)

Inspire Advisors LLC boosted its position in Genuine Parts (NYSE:GPC) by 19.2% during the third quarter, Holdings Channel reports. The fund owned 3,726 shares of the specialty retailer’s stock after acquiring an additional 601 shares during the period. Inspire Advisors LLC’s holdings in Genuine Parts were worth $520,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GPC. WD Rutherford LLC purchased a new stake in Genuine Parts during the first quarter valued at about $26,000. Thompson Investment Management Inc. purchased a new stake in Genuine Parts during the first quarter valued at about $35,000. Stephens Consulting LLC boosted its position in Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares during the period. Manchester Capital Management LLC boosted its position in Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 66 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in Genuine Parts during the second quarter valued at about $40,000. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the subject of several analyst reports. Evercore ISI cut their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday. Wedbush dropped their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Genuine Parts from $157.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $157.29.

Genuine Parts Price Performance

GPC stock opened at $143.21 on Friday. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The company has a market cap of $19.95 billion, a P/E ratio of 15.97 and a beta of 0.90. The firm has a 50-day moving average of $138.97 and a 200 day moving average of $143.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same period in the previous year, the company earned $2.44 earnings per share. Genuine Parts’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

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.