Genuine Parts (NYSE:GPC) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its stake in shares of Genuine Parts (NYSE:GPC) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,242 shares of the specialty retailer’s stock after purchasing an additional 1,518 shares during the period. Royal London Asset Management Ltd.’s holdings in Genuine Parts were worth $7,996,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GPC. Ashton Thomas Securities LLC purchased a new position in Genuine Parts in the 3rd quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts in the third quarter worth about $31,000. Concord Wealth Partners lifted its holdings in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the period. Triad Wealth Partners LLC purchased a new stake in Genuine Parts in the second quarter valued at approximately $40,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Genuine Parts in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC opened at $123.42 on Monday. The company has a market cap of $17.16 billion, a price-to-earnings ratio of 15.88 and a beta of 0.94. The firm’s fifty day simple moving average is $127.03 and its two-hundred day simple moving average is $135.22. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.49 earnings per share. Equities analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.24%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Ratings Changes

Several analysts have recently commented on GPC shares. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average target price of $139.57.

Genuine Parts Company Profile

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.