Sawtooth Solutions LLC grew its stake in Genuine Parts (NYSE:GPC – Get Rating) by 17.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,956 shares of the specialty retailer's stock after purchasing an additional 290 shares during the quarter. Sawtooth Solutions LLC's holdings in Genuine Parts were worth $260,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Gradient Investments LLC grew its stake in shares of Genuine Parts by 65.8% in the second quarter. Gradient Investments LLC now owns 189 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 75 shares in the last quarter. Tompkins Financial Corp acquired a new position in shares of Genuine Parts in the first quarter valued at about $36,000. Quent Capital LLC acquired a new position in shares of Genuine Parts in the fourth quarter valued at about $40,000. Bromfield Sneider Wealth Advisors acquired a new position in shares of Genuine Parts in the first quarter valued at about $42,000. Finally, US Asset Management LLC acquired a new position in shares of Genuine Parts in the first quarter valued at about $45,000. 78.27% of the stock is owned by institutional investors.
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Shares of Genuine Parts stock opened at $149.32 on Friday. The company has a market capitalization of $21.12 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.79 and a beta of 0.97. The company has a quick ratio of 0.58, a current ratio of 1.17 and a debt-to-equity ratio of 0.90. Genuine Parts has a 12-month low of $115.63 and a 12-month high of $164.99. The firm's 50-day moving average price is $154.98 and its two-hundred day moving average price is $140.89.
Genuine Parts (NYSE:GPC – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.18. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.30 billion. Genuine Parts had a net margin of 5.38% and a return on equity of 31.67%. The business's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 earnings per share. On average, analysts forecast that Genuine Parts will post 7.96 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 Monday, October 3rd. Stockholders of record on Friday, September 2nd will be paid a $0.895 dividend. The ex-dividend date is Thursday, September 1st. This represents a $3.58 dividend on an annualized basis and a dividend yield of 2.40%. Genuine Parts's payout ratio is currently 46.37%.
Analyst Ratings Changes
GPC has been the topic of several research reports. Wedbush upped their price target on shares of Genuine Parts from $140.00 to $150.00 in a research note on Thursday, July 28th. Evercore ISI decreased their price target on shares of Genuine Parts to $135.00 in a research note on Thursday, June 9th. Finally, StockNews.com downgraded shares of Genuine Parts from a "strong-buy" rating to a "buy" rating in a research note on Monday, September 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $140.20.
About Genuine Parts
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Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, 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.
Further Reading
- Get a free copy of the StockNews.com research report on Genuine Parts (GPC)
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