Genuine Parts (NYSE:GPC) Shares Bought by DNB Asset Management AS

DNB Asset Management AS grew its stake in shares of Genuine Parts (NYSE:GPCGet Rating) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,796 shares of the specialty retailer’s stock after acquiring an additional 2,445 shares during the period. DNB Asset Management AS’s holdings in Genuine Parts were worth $4,511,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Country Trust Bank grew its holdings in Genuine Parts by 376.2% during the 4th quarter. Country Trust Bank now owns 200 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 158 shares in the last quarter. JNBA Financial Advisors grew its holdings in Genuine Parts by 103.8% during the 4th quarter. JNBA Financial Advisors now owns 214 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 109 shares in the last quarter. Missouri Trust & Investment Co bought a new position in shares of Genuine Parts in the 4th quarter worth about $32,000. FSB Premier Wealth Management Inc. bought a new position in shares of Genuine Parts in the 4th quarter worth about $31,000. Finally, Capital Analysts LLC lifted its position in shares of Genuine Parts by 82.4% in the 4th quarter. Capital Analysts LLC now owns 239 shares of the specialty retailer’s stock worth $34,000 after buying an additional 108 shares during the last quarter. 76.92% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on GPC. StockNews.com began coverage on shares of Genuine Parts in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Evercore ISI reduced their price target on shares of Genuine Parts to $135.00 in a research report on Thursday, June 9th. Finally, Bank of America upgraded shares of Genuine Parts from an “underperform” rating to a “neutral” rating and set a $133.00 price objective on the stock in a research report on Tuesday, May 10th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $137.75.

Shares of NYSE:GPC opened at $131.62 on Thursday. The company has a market cap of $18.64 billion, a PE ratio of 20.37, a P/E/G ratio of 2.91 and a beta of 0.99. The company’s 50-day moving average price is $133.52 and its 200 day moving average price is $131.65. Genuine Parts has a fifty-two week low of $115.63 and a fifty-two week high of $142.97. The company has a quick ratio of 0.58, a current ratio of 1.16 and a debt-to-equity ratio of 0.94.

Genuine Parts (NYSE:GPCGet Rating) last released its quarterly earnings results on Thursday, April 21st. The specialty retailer reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. Genuine Parts had a net margin of 4.71% and a return on equity of 30.84%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the firm earned $1.50 EPS. Genuine Parts’s revenue was up 17.6% on a year-over-year basis. As a group, equities analysts anticipate that Genuine Parts will post 7.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 3rd will be paid a $0.895 dividend. The ex-dividend date is Thursday, June 2nd. This represents a $3.58 annualized dividend and a dividend yield of 2.72%. Genuine Parts’s dividend payout ratio is currently 55.42%.

Genuine Parts Profile (Get Rating)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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