Rocky Mountain Advisers LLC Invests $140,000 in Genuine Parts (NYSE:GPC)

Rocky Mountain Advisers LLC purchased a new stake in Genuine Parts (NYSE:GPC) during the third quarter, HoldingsChannel.com reports. The firm purchased 1,000 shares of the specialty retailer’s stock, valued at approximately $140,000.

Several other large investors have also recently bought and sold shares of GPC. Wulff Hansen & CO. lifted its holdings in shares of Genuine Parts by 13,732.0% during the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after buying an additional 1,555,149 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after purchasing an additional 580,262 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in shares of Genuine Parts in the third quarter valued at approximately $39,474,000. Natixis increased its stake in Genuine Parts by 768.4% during the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after acquiring an additional 279,930 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after acquiring an additional 239,858 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

NYSE:GPC opened at $122.41 on Friday. The stock’s 50-day moving average is $132.47 and its 200-day moving average is $139.74. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. 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 stock has a market cap of $17.02 billion, a P/E ratio of 15.75 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion during 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 business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 EPS. Equities research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analysts Set New Price Targets

A number of research analysts recently commented on GPC shares. JPMorgan Chase & Co. decreased their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Wedbush lowered their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group lowered their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.