4,370 Genuine Parts Company $GPC Shares Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC increased its position in Genuine Parts Company (NYSE:GPC) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,276 shares of the specialty retailer’s stock after acquiring an additional 4,370 shares during the period. Soltis Investment Advisors LLC’s holdings in Genuine Parts were worth $9,339,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Genuine Parts by 85.0% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,262 shares of the specialty retailer’s stock valued at $3,200,000 after buying an additional 13,900 shares during the last quarter. Paradiem LLC purchased a new position in Genuine Parts in the 1st quarter worth about $3,154,000. Montag A & Associates Inc. raised its position in Genuine Parts by 19.6% in the 1st quarter. Montag A & Associates Inc. now owns 64,855 shares of the specialty retailer’s stock worth $6,923,000 after buying an additional 10,622 shares during the last quarter. Hsbc Holdings PLC raised its position in Genuine Parts by 19.5% in the 4th quarter. Hsbc Holdings PLC now owns 477,970 shares of the specialty retailer’s stock worth $58,887,000 after buying an additional 77,936 shares during the last quarter. Finally, Bastion Asset Management Inc. bought a new position in Genuine Parts during the 1st quarter valued at about $16,978,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $122.36 on Friday. Genuine Parts Company has a 12-month low of $90.78 and a 12-month high of $151.57. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 489.46, a price-to-earnings-growth ratio of 2.66 and a beta of 0.67. The company has a current ratio of 1.22, a quick ratio of 0.54 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $130.33 and a 200 day moving average of $120.29.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.03. Genuine Parts had a net margin of 0.12% and a return on equity of 23.00%. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same period last year, the firm earned $1.98 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts anticipate that Genuine Parts Company will post 7.62 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, September 4th. Genuine Parts’s dividend payout ratio is 1,700.00%.

Analyst Ratings Changes

GPC has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, September 21st. UBS Group lifted their target price on shares of Genuine Parts from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. The Goldman Sachs Group set a $122.00 price objective on Genuine Parts in a research report on Tuesday, October 20th. Raymond James Financial reissued a “strong-buy” rating and issued a $165.00 target price on shares of Genuine Parts in a report on Wednesday, July 22nd. Finally, Argus dropped their target price on Genuine Parts from $156.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.00.

Genuine Parts Profile

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.