Genuine Parts (NYSE:GPC) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp raised its holdings in Genuine Parts (NYSE:GPC) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,808 shares of the specialty retailer’s stock after purchasing an additional 122 shares during the quarter. King Luther Capital Management Corp’s holdings in Genuine Parts were worth $1,370,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wulff Hansen & CO. increased its holdings in shares of Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after purchasing an additional 1,555,149 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after buying an additional 239,858 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Genuine Parts by 29.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after acquiring an additional 223,712 shares during the period. Hamlin Capital Management LLC boosted its stake in shares of Genuine Parts by 12.3% during the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after acquiring an additional 64,520 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after acquiring an additional 580,262 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GPC has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. The Goldman Sachs Group decreased their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial cut their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. UBS Group decreased their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $124.80 on Friday. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of 16.06 and a beta of 0.92. Genuine Parts has a 12 month low of $112.74 and a 12 month 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 0.57. The business has a 50-day moving average of $129.44 and a 200 day moving average of $137.26.

Genuine Parts (NYSE:GPC) last released its earnings results 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). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the business posted $2.49 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts forecast that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

About Genuine Parts

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.