Advisors Asset Management Inc. Takes $536,000 Position in Genuine Parts (NYSE:GPC)

Advisors Asset Management Inc. bought a new position in shares of Genuine Parts (NYSE:GPCGet Rating) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,027 shares of the specialty retailer’s stock, valued at approximately $536,000.

Other hedge funds have also recently bought and sold shares of the company. Moors & Cabot Inc. boosted its holdings in shares of Genuine Parts by 0.5% in the 2nd quarter. Moors & Cabot Inc. now owns 51,048 shares of the specialty retailer’s stock valued at $6,789,000 after purchasing an additional 261 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in Genuine Parts during the 2nd quarter worth $200,000. Baird Financial Group Inc. increased its position in shares of Genuine Parts by 18.7% in the 2nd quarter. Baird Financial Group Inc. now owns 253,353 shares of the specialty retailer’s stock worth $33,695,000 after purchasing an additional 39,845 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Genuine Parts by 0.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 175,459 shares of the specialty retailer’s stock valued at $23,336,000 after buying an additional 604 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Genuine Parts by 0.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,421 shares of the specialty retailer’s stock valued at $1,918,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 78.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com upgraded shares of Genuine Parts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 20th. Wedbush boosted their price objective on shares of Genuine Parts from $140.00 to $150.00 in a research report on Thursday, July 28th.

Genuine Parts Price Performance

NYSE:GPC opened at $180.68 on Friday. The stock has a market cap of $25.50 billion, a P/E ratio of 21.69, a PEG ratio of 1.84 and a beta of 0.99. Genuine Parts has a one year low of $115.63 and a one year high of $183.48. The company has a fifty day moving average price of $164.41 and a 200 day moving average price of $150.13. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.18 and a quick ratio of 0.60.

Genuine Parts (NYSE:GPCGet Rating) last released its earnings results on Thursday, October 20th. The specialty retailer reported $2.23 EPS for the quarter, beating the consensus estimate of $2.05 by $0.18. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Genuine Parts had a net margin of 5.55% and a return on equity of 31.91%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 EPS. Analysts anticipate that Genuine Parts will post 8.16 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 2nd will be paid a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, December 1st. Genuine Parts’s dividend payout ratio is 42.98%.

Genuine Parts Profile

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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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