Genuine Parts Company $GPC Position Raised by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Genuine Parts Company by 4.7%, owning approximately 1.28% of the company valued at $211.8 million as of the latest SEC filing.
• Genuine Parts reported $2.10 earnings per share for the last quarter, exceeding analysts' expectations, along with a revenue of $6.16 billion.
• The company declared a quarterly dividend of $1.03, representing a yield of 3.0%, with a payout ratio of 70.91%.

Dimensional Fund Advisors LP raised its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 4.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,777,990 shares of the specialty retailer's stock after buying an additional 79,253 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.28% of Genuine Parts worth $211,816,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Horizon Investments LLC lifted its stake in Genuine Parts by 4.8% in the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock valued at $238,000 after buying an additional 91 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Genuine Parts by 2.8% during the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock valued at $402,000 after purchasing an additional 93 shares in the last quarter. Strategic Wealth Partners Ltd. raised its stake in shares of Genuine Parts by 4.2% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after purchasing an additional 98 shares in the last quarter. Keybank National Association OH raised its stake in shares of Genuine Parts by 0.5% during the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after purchasing an additional 98 shares in the last quarter. Finally, Veracity Capital LLC raised its stake in shares of Genuine Parts by 4.9% during the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after purchasing an additional 100 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI cut their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial lifted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. JPMorgan Chase & Co. lifted their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group lifted their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $135.29.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $137.31 on Tuesday. The company's 50-day moving average price is $127.20 and its two-hundred day moving average price is $122.96. The stock has a market cap of $19.10 billion, a PE ratio of 23.63 and a beta of 0.75. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.49. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. Genuine Parts's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. As a group, sell-side analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Genuine Parts 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.

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