Northwestern Mutual Wealth Management Co. lowered its position in Genuine Parts (NYSE:GPC – Get Rating) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,645 shares of the specialty retailer’s stock after selling 122 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Genuine Parts were worth $1,088,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Capital Analysts LLC increased its holdings in Genuine Parts by 82.4% in the fourth 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. Quent Capital LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at $40,000. Bromfield Sneider Wealth Advisors bought a new stake in Genuine Parts in the first quarter worth $42,000. US Asset Management LLC acquired a new position in Genuine Parts during the first quarter worth $45,000. Finally, Rosenberg Matthew Hamilton raised its holdings in Genuine Parts by 29.3% during the first quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock valued at $47,000 after buying an additional 84 shares in the last quarter. 76.92% of the stock is owned by institutional investors and hedge funds.
Genuine Parts Stock Down 0.4 %
Shares of GPC stock opened at $159.97 on Friday. Genuine Parts has a 12 month low of $115.63 and a 12 month high of $161.45. The company has a quick ratio of 0.58, a current ratio of 1.17 and a debt-to-equity ratio of 0.90. The firm has a market cap of $22.62 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 1.99 and a beta of 0.99. The stock has a 50 day moving average of $141.98 and a 200-day moving average of $134.20.
Genuine Parts (NYSE:GPC – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.30 billion. Genuine Parts had a return on equity of 31.67% and a net margin of 5.38%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 earnings per share. On average, equities analysts predict that Genuine Parts will post 7.97 EPS for the current year.
Genuine Parts Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be issued a $0.895 dividend. The ex-dividend date is Thursday, September 1st. This represents a $3.58 annualized dividend and a yield of 2.24%. Genuine Parts’s dividend payout ratio (DPR) is 46.37%.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. Evercore ISI decreased their price target on Genuine Parts to $135.00 in a research note on Thursday, June 9th. Bank of America raised shares of Genuine Parts from an “underperform” rating to a “neutral” rating and set a $133.00 price target on the stock in a research report on Tuesday, May 10th. They noted that the move was a valuation call. Finally, Wedbush upped their price objective on shares of Genuine Parts from $140.00 to $150.00 in a report on Thursday, July 28th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average price target of $140.20.
Genuine Parts Company Profile
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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