Armstrong Advisory Group Inc. Acquires 141 Shares of Genuine Parts (NYSE:GPC)

Armstrong Advisory Group Inc. lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 63.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 362 shares of the specialty retailer’s stock after purchasing an additional 141 shares during the period. Armstrong Advisory Group Inc.’s holdings in Genuine Parts were worth $51,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. WD Rutherford LLC bought a new stake in Genuine Parts during the 1st quarter valued at $26,000. Thompson Investment Management Inc. purchased a new stake in shares of Genuine Parts during the first quarter worth about $35,000. Stephens Consulting LLC grew its stake in shares of Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Manchester Capital Management LLC increased its holdings in Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares during the period. Finally, Bruce G. Allen Investments LLC raised its position in Genuine Parts by 149.0% during the 1st quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GPC shares. Truist Financial reissued a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. UBS Group decreased their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Evercore ISI cut their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, The Goldman Sachs Group cut their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Price Performance

Shares of GPC opened at $139.44 on Tuesday. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The firm’s 50-day simple moving average is $138.62 and its two-hundred day simple moving average is $143.44. The stock has a market cap of $19.42 billion, a PE ratio of 15.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period last year, the business earned $2.44 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.87%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.