GSB Wealth Management LLC Buys 172 Shares of Genuine Parts (NYSE:GPC)

GSB Wealth Management LLC increased its stake in shares of Genuine Parts (NYSE:GPC) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,130 shares of the specialty retailer’s stock after buying an additional 172 shares during the period. GSB Wealth Management LLC’s holdings in Genuine Parts were worth $1,974,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Comerica Bank boosted its holdings in Genuine Parts by 19.6% in the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after purchasing an additional 18,657 shares during the period. Hamlin Capital Management LLC boosted its holdings in Genuine Parts by 12.3% in the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock valued at $82,561,000 after purchasing an additional 64,520 shares during the period. Mezzasalma Advisors LLC boosted its holdings in Genuine Parts by 497.0% in the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock valued at $1,865,000 after purchasing an additional 10,019 shares during the period. Acadian Asset Management LLC boosted its holdings in Genuine Parts by 137.9% in the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after purchasing an additional 13,330 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its holdings in Genuine Parts by 707.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 14,691 shares of the specialty retailer’s stock valued at $2,276,000 after purchasing an additional 12,871 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC stock opened at $117.28 on Wednesday. The company has a 50 day simple moving average of $136.37 and a 200 day simple moving average of $141.68. The stock has a market cap of $16.34 billion, a price-to-earnings ratio of 13.07 and a beta of 0.90. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.54.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.49 earnings per share. Research analysts anticipate that Genuine Parts will post 8.1 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

Analysts Set New Price Targets

GPC has been the subject of several analyst reports. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group dropped 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. Finally, Wedbush dropped their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.