Summit Financial Wealth Advisors LLC Grows Stock Position in Genuine Parts (NYSE:GPC)

Summit Financial Wealth Advisors LLC grew its stake in Genuine Parts (NYSE:GPC) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,536 shares of the specialty retailer’s stock after buying an additional 276 shares during the quarter. Genuine Parts accounts for about 1.8% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 17th largest holding. Summit Financial Wealth Advisors LLC’s holdings in Genuine Parts were worth $9,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Wulff Hansen & CO. lifted its holdings in Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after acquiring an additional 1,555,149 shares during the period. International Assets Investment Management LLC increased its stake in shares of Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares in the last quarter. Boston Trust Walden Corp purchased a new position in Genuine Parts during the third quarter worth approximately $39,474,000. Dimensional Fund Advisors LP grew its holdings in Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after purchasing an additional 239,858 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Genuine Parts by 29.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after buying an additional 223,712 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. UBS Group decreased their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Wedbush cut their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Up 3.8 %

NYSE GPC opened at $129.54 on Tuesday. The business’s fifty day simple moving average is $129.29 and its 200-day simple moving average is $136.96. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm has a market cap of $18.01 billion, a PE ratio of 16.67 and a beta of 0.92. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the firm earned $2.49 earnings per share. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 3.09%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Genuine Parts Company 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.