DnB Asset Management AS Increases Stake in Genuine Parts (NYSE:GPC)

DnB Asset Management AS grew its stake in Genuine Parts (NYSE:GPCGet Rating) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 35,996 shares of the specialty retailer’s stock after buying an additional 200 shares during the quarter. DnB Asset Management AS’s holdings in Genuine Parts were worth $4,787,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Rafferty Asset Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $208,000. Allianz Asset Management GmbH raised its position in shares of Genuine Parts by 438.4% during the 4th quarter. Allianz Asset Management GmbH now owns 38,737 shares of the specialty retailer’s stock worth $5,431,000 after acquiring an additional 31,542 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Genuine Parts by 232.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 52,550 shares of the specialty retailer’s stock worth $7,368,000 after acquiring an additional 36,748 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Genuine Parts by 153.6% during the 4th quarter. Renaissance Technologies LLC now owns 198,300 shares of the specialty retailer’s stock worth $27,802,000 after acquiring an additional 120,100 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Genuine Parts by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 3,153,401 shares of the specialty retailer’s stock worth $441,547,000 after acquiring an additional 161,986 shares in the last quarter. Hedge funds and other institutional investors own 78.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GPC shares. StockNews.com raised Genuine Parts from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Wedbush raised their target price on Genuine Parts from $140.00 to $150.00 in a research report on Thursday, July 28th. Finally, Evercore ISI cut their price target on Genuine Parts to $135.00 in a research report on Thursday, June 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $140.20.

Genuine Parts Trading Up 2.5 %

GPC opened at $158.53 on Tuesday. The firm has a market cap of $22.42 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97. Genuine Parts has a 52 week low of $115.63 and a 52 week high of $164.99. The business’s 50 day moving average is $152.80 and its two-hundred day moving average is $139.15. The company has a quick ratio of 0.58, a current ratio of 1.17 and a debt-to-equity ratio of 0.90.

Genuine Parts (NYSE:GPCGet Rating) last announced its earnings results on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. Genuine Parts had a return on equity of 31.67% and a net margin of 5.38%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period last year, the business posted $1.74 EPS. The company’s revenue was up 17.1% on a year-over-year basis. On average, research analysts predict that Genuine Parts will post 7.97 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a $0.895 dividend. The ex-dividend date is Thursday, September 1st. This represents a $3.58 annualized dividend and a dividend yield of 2.26%. Genuine Parts’s dividend payout ratio (DPR) is currently 46.37%.

About Genuine Parts

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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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