Sanders Capital LLC increased its stake in shares of Genuine Parts Co. (NYSE:GPC) by 0.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,013,739 shares of the company’s stock after buying an additional 3,346 shares during the period. Sanders Capital LLC’s holdings in Genuine Parts were worth $102,641,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in GPC. Spectrum Management Group Inc. boosted its stake in shares of Genuine Parts by 26.4% in the second quarter. Spectrum Management Group Inc. now owns 6,910 shares of the company’s stock worth $700,000 after buying an additional 1,445 shares during the period. LMR Partners LLP purchased a new position in shares of Genuine Parts during the second quarter worth about $542,000. Sabal Trust CO boosted its position in shares of Genuine Parts by 6.0% in the second quarter. Sabal Trust CO now owns 190,682 shares of the company’s stock worth $19,307,000 after buying an additional 10,807 shares during the last quarter. First National Trust Co. boosted its position in shares of Genuine Parts by 0.8% in the second quarter. First National Trust Co. now owns 27,053 shares of the company’s stock worth $2,739,000 after buying an additional 211 shares during the last quarter. Finally, Benedict Financial Advisors Inc. boosted its position in shares of Genuine Parts by 102.1% in the second quarter. Benedict Financial Advisors Inc. now owns 8,444 shares of the company’s stock worth $862,000 after buying an additional 4,266 shares during the last quarter. Institutional investors and hedge funds own 71.56% of the company’s stock.
Genuine Parts Co. (NYSE:GPC) traded down 0.96% during midday trading on Friday, reaching $98.27. 433,470 shares of the company traded hands. Genuine Parts Co. has a 1-year low of $76.50 and a 1-year high of $105.97. The firm has a 50-day moving average of $100.65 and a 200-day moving average of $99.12. The stock has a market capitalization of $14.63 billion, a P/E ratio of 21.22 and a beta of 0.92.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by $0.01. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the business earned $1.28 EPS. On average, analysts predict that Genuine Parts Co. will post $4.73 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were given a dividend of $0.6575 per share. This represents a $2.63 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Wednesday, September 7th. Genuine Parts’s payout ratio is currently 56.68%.
A number of equities analysts have weighed in on GPC shares. Argus reissued a “buy” rating and issued a $108.00 target price (up previously from $106.00) on shares of Genuine Parts in a research report on Monday, July 25th. Zacks Investment Research raised Genuine Parts from a “sell” rating to a “hold” rating and set a $115.00 target price for the company in a research report on Friday, July 15th. Jefferies Group lowered Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 target price for the company. in a research report on Friday, July 15th. Gabelli lowered Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 target price for the company. in a research report on Thursday, July 14th. Finally, Susquehanna started coverage on Genuine Parts in a research report on Thursday, August 25th. They issued a “neutral” rating and a $102.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Genuine Parts presently has a consensus rating of “Hold” and an average price target of $99.82.
About Genuine Parts
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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