International Assets Investment Management LLC Boosts Stock Position in Genuine Parts (NYSE:GPC)

International Assets Investment Management LLC increased its stake in shares of Genuine Parts (NYSE:GPC) by 14,222.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 584,342 shares of the specialty retailer’s stock after purchasing an additional 580,262 shares during the quarter. International Assets Investment Management LLC owned approximately 0.42% of Genuine Parts worth $81,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. U.S. Capital Wealth Advisors LLC increased its position in Genuine Parts by 6.8% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 81,034 shares of the specialty retailer’s stock worth $11,319,000 after purchasing an additional 5,156 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in Genuine Parts in the 3rd quarter worth about $845,000. Global X Japan Co. Ltd. boosted its stake in Genuine Parts by 19.7% in the 3rd quarter. Global X Japan Co. Ltd. now owns 3,108 shares of the specialty retailer’s stock worth $434,000 after buying an additional 511 shares during the last quarter. Private Advisor Group LLC boosted its stake in Genuine Parts by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 25,418 shares of the specialty retailer’s stock worth $3,550,000 after buying an additional 799 shares during the last quarter. Finally, Westhampton Capital LLC boosted its stake in Genuine Parts by 8.3% in the 3rd quarter. Westhampton Capital LLC now owns 6,490 shares of the specialty retailer’s stock worth $907,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Genuine Parts stock opened at $114.24 on Friday. The stock’s 50 day moving average price is $137.22 and its 200 day moving average price is $142.12. The firm has a market capitalization of $15.92 billion, a PE ratio of 14.70 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.54 and a current ratio of 1.17. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

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

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.50%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GPC. Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday. The Goldman Sachs Group decreased their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group reduced their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus 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.