Hartford Financial Management Inc. increased its position in Genuine Parts (NYSE:GPC) by 4.0% during the first quarter, HoldingsChannel reports. The firm owned 17,935 shares of the specialty retailer’s stock after acquiring an additional 690 shares during the quarter. Hartford Financial Management Inc.’s holdings in Genuine Parts were worth $2,009,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in GPC. Clarfeld Financial Advisors LLC purchased a new position in Genuine Parts in the 4th quarter worth about $26,000. Essex Savings Bank purchased a new stake in shares of Genuine Parts during the 4th quarter valued at about $27,000. Sontag Advisory LLC purchased a new stake in shares of Genuine Parts during the 4th quarter valued at about $29,000. Lindbrook Capital LLC purchased a new stake in shares of Genuine Parts during the 4th quarter valued at about $31,000. Finally, Berman Capital Advisors LLC purchased a new stake in shares of Genuine Parts during the 4th quarter valued at about $33,000. Institutional investors own 75.68% of the company’s stock.
Several equities research analysts have recently commented on GPC shares. Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. ValuEngine lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Evercore ISI started coverage on shares of Genuine Parts in a research report on Wednesday, March 20th. They set an “in-line” rating and a $110.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of $103.60.
NYSE GPC opened at $98.87 on Tuesday. Genuine Parts has a 52 week low of $89.87 and a 52 week high of $115.20. The stock has a market cap of $14.33 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 3.20 and a beta of 0.97. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.67.
Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.03). The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.79 billion. Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.27 earnings per share. Sell-side analysts forecast that Genuine Parts will post 5.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $0.7625 dividend. This represents a $3.05 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, June 6th. Genuine Parts’s dividend payout ratio is 53.70%.
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Genuine Parts Profile
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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