Soltis Investment Advisors LLC Grows Position in Genuine Parts (NYSE:GPC)

Soltis Investment Advisors LLC lifted its holdings in Genuine Parts (NYSE:GPC) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,934 shares of the specialty retailer’s stock after buying an additional 831 shares during the period. Soltis Investment Advisors LLC’s holdings in Genuine Parts were worth $5,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of GPC. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter worth $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the third quarter worth about $31,000. Concord Wealth Partners increased its position 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 during the last quarter. Triad Wealth Partners LLC acquired a new position in Genuine Parts in the 2nd quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.4 %

Shares of GPC opened at $125.38 on Wednesday. The company’s 50-day simple moving average is $126.47 and its 200-day simple moving average is $134.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock has a market capitalization of $17.43 billion, a PE ratio of 16.14 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) 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 analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 earnings per share. Analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

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 issued 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 3.19%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Analyst Ratings Changes

Several analysts have recently commented on GPC shares. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial lowered their target price 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. Finally, UBS Group reduced 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. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.