Oppenheimer Asset Management Inc. Acquires 14,084 Shares of Genuine Parts (NYSE:GPC)

Oppenheimer Asset Management Inc. increased its position in Genuine Parts (NYSE:GPC) by 12.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,813 shares of the specialty retailer’s stock after purchasing an additional 14,084 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.09% of Genuine Parts worth $17,853,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners lifted its stake in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Genuine Parts during the second quarter worth $40,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Genuine Parts in the third quarter valued at $44,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of Genuine Parts stock traded up $0.03 during mid-day trading on Wednesday, reaching $122.73. 85,962 shares of the stock were exchanged, compared to its average volume of 1,049,660. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a market cap of $17.06 billion, a price-to-earnings ratio of 15.80 and a beta of 0.92. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a 50-day simple moving average of $131.64 and a 200 day simple moving average of $139.05.

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

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GPC shares. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday. UBS Group dropped their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $139.57.

About Genuine Parts

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.