Cerity Partners LLC Buys 1,316 Shares of Genuine Parts (NYSE:GPC)

Cerity Partners LLC increased its position in shares of Genuine Parts (NYSE:GPC) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,953 shares of the specialty retailer’s stock after purchasing an additional 1,316 shares during the period. Cerity Partners LLC’s holdings in Genuine Parts were worth $27,650,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GPC. First Citizens Bank & Trust Co. boosted its stake in shares of Genuine Parts by 4.9% during the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after purchasing an additional 75 shares in the last quarter. Dover Advisors LLC boosted its position in Genuine Parts by 5.1% during the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after acquiring an additional 85 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after acquiring an additional 85 shares during the period. Blackhawk Capital Partners LLC. raised its position in shares of Genuine Parts by 1.3% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock worth $940,000 after acquiring an additional 86 shares in the last quarter. Finally, Guardian Wealth Advisors LLC lifted its stake in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after purchasing an additional 91 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on GPC. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Wedbush lowered their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI boosted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

Shares of GPC opened at $124.80 on Monday. The firm has a market capitalization of $17.35 billion, a PE ratio of 16.06 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company’s fifty day moving average price is $129.44 and its 200-day moving average price is $137.14. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the previous year, the business earned $2.49 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.21%. Genuine Parts’s payout ratio is currently 51.48%.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: 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 equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.