Perigon Wealth Management LLC boosted its holdings in Genuine Parts (NYSE:GPC – Get Rating) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,647 shares of the specialty retailer’s stock after purchasing an additional 129 shares during the quarter. Perigon Wealth Management LLC’s holdings in Genuine Parts were worth $545,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Genuine Parts by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock valued at $2,401,000 after acquiring an additional 1,180 shares in the last quarter. Cibc World Market Inc. increased its stake in Genuine Parts by 14.8% in the first quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after purchasing an additional 354 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Genuine Parts by 9.4% during the first quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock valued at $6,448,000 after purchasing an additional 4,372 shares during the period. Aviva PLC boosted its position in shares of Genuine Parts by 63.1% during the 1st quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock worth $9,949,000 after purchasing an additional 30,545 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Genuine Parts by 195.1% in the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock valued at $14,408,000 after buying an additional 75,591 shares during the period. 78.14% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
GPC has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on Genuine Parts from $147.00 to $157.00 and gave the stock a “sell” rating in a research note on Thursday, February 23rd. StockNews.com assumed coverage on Genuine Parts in a report on Thursday. They issued a “buy” rating on the stock. Truist Financial boosted their price target on shares of Genuine Parts from $170.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, February 24th. Finally, Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a research note on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $152.20.
Genuine Parts Trading Down 1.6 %
Genuine Parts (NYSE:GPC – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.15. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.33 billion. Genuine Parts had a net margin of 5.35% and a return on equity of 32.22%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.79 EPS. On average, sell-side analysts anticipate that Genuine Parts will post 8.93 earnings per share for the current fiscal year.
Genuine Parts Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be paid a $0.95 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $3.80 annualized dividend and a yield of 2.34%. Genuine Parts’s dividend payout ratio (DPR) is 45.73%.
Genuine Parts Company Profile
Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.
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