Genuine Parts Company $GPC Position Increased by AE Wealth Management LLC

AE Wealth Management LLC raised its stake in Genuine Parts Company (NYSE:GPC) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 153,578 shares of the specialty retailer’s stock after buying an additional 10,121 shares during the period. AE Wealth Management LLC’s holdings in Genuine Parts were worth $21,286,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of GPC. Norges Bank acquired a new position in shares of Genuine Parts in the 2nd quarter worth $211,661,000. Federated Hermes Inc. acquired a new position in shares of Genuine Parts in the 2nd quarter valued at $107,015,000. Nomura Holdings Inc. increased its stake in Genuine Parts by 142.1% in the 2nd quarter. Nomura Holdings Inc. now owns 529,330 shares of the specialty retailer’s stock worth $64,213,000 after purchasing an additional 310,715 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Genuine Parts by 98.0% during the 2nd quarter. Pzena Investment Management LLC now owns 596,051 shares of the specialty retailer’s stock worth $72,307,000 after buying an additional 295,064 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Genuine Parts by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,309,178 shares of the specialty retailer’s stock worth $2,099,776,000 after buying an additional 260,787 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. UBS Group boosted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Truist Financial raised their target price on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and lifted their price target for the company from $130.00 to $142.00 in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Genuine Parts Stock Down 0.9%

Shares of Genuine Parts stock opened at $138.78 on Friday. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 23.89 and a beta of 0.75. The stock has a 50-day simple moving average of $129.81 and a 200-day simple moving average of $132.17. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $143.48. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were paid a $1.03 dividend. The ex-dividend date was Friday, December 5th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. Genuine Parts’s payout ratio is 70.91%.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.