Guardian Wealth Advisors LLC Raises Stock Position in Genuine Parts (NYSE:GPC)

Guardian Wealth Advisors LLC grew its stake in Genuine Parts (NYSE:GPC) by 18.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,959 shares of the specialty retailer’s stock after acquiring an additional 312 shares during the period. Guardian Wealth Advisors LLC’s holdings in Genuine Parts were worth $328,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. OLD Mission Capital LLC purchased a new stake in Genuine Parts during the 4th quarter worth approximately $28,000. Ten Capital Wealth Advisors LLC boosted its holdings in shares of Genuine Parts by 1,308.3% in the 1st quarter. Ten Capital Wealth Advisors LLC now owns 169 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 157 shares in the last quarter. Salem Investment Counselors Inc. boosted its holdings in shares of Genuine Parts by 42.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 60 shares in the last quarter. Compass Wealth Management LLC acquired a new position in shares of Genuine Parts in the 4th quarter valued at $35,000. Finally, Fred Alger Management LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $42,000. 77.51% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Genuine Parts stock opened at $147.27 on Wednesday. Genuine Parts has a 12-month low of $145.30 and a 12-month high of $187.73. The stock has a market capitalization of $20.68 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.83 and a beta of 0.90. The firm’s 50-day moving average is $157.35 and its two-hundred day moving average is $161.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 0.58.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.10. Genuine Parts had a net margin of 5.30% and a return on equity of 32.43%. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.96 billion. During the same period last year, the company earned $2.20 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts predict that Genuine Parts will post 9.24 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $3.80 annualized dividend and a yield of 2.58%. Genuine Parts’s payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GPC. Evercore ISI upped their price target on shares of Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a research report on Friday, September 8th. JPMorgan Chase & Co. cut their price objective on shares of Genuine Parts from $190.00 to $184.00 and set an “overweight” rating for the company in a research report on Friday, July 21st. Northcoast Research initiated coverage on shares of Genuine Parts in a research report on Wednesday, June 28th. They set a “buy” rating and a $195.00 price objective for the company. StockNews.com initiated coverage on shares of Genuine Parts in a research report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Bank of America upgraded shares of Genuine Parts from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $189.00 in a research report on Thursday, June 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.00.

About Genuine Parts

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, and individuals.