Baron Wealth Management LLC Makes New Investment in Genuine Parts (NYSE:GPC)

Baron Wealth Management LLC bought a new stake in Genuine Parts (NYSE:GPC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,443 shares of the specialty retailer’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wulff Hansen & CO. increased its stake 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 last quarter. International Assets Investment Management LLC grew its holdings in Genuine Parts by 14,222.1% in the third 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 during the period. Boston Trust Walden Corp bought a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $39,474,000. Dimensional Fund Advisors LP boosted its position in shares of 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 worth $189,296,000 after purchasing an additional 239,858 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Genuine Parts by 29.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after buying an additional 223,712 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. dropped their target price on 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 cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. UBS Group dropped their target price 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. Finally, The Goldman Sachs Group reduced their price target 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. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Trading Down 2.4 %

Genuine Parts stock opened at $121.26 on Wednesday. The business has a 50-day simple moving average of $130.25 and a two-hundred day simple moving average of $137.83. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. 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 company has a market cap of $16.86 billion, a P/E ratio of 15.61 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced 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 net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior year, the company posted $2.49 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.30%. Genuine Parts’s payout ratio is 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.