Oppenheimer Asset Management Inc. Raises Position in Genuine Parts Company (NYSE:GPC)

Oppenheimer Asset Management Inc. raised its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 33.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 156,362 shares of the specialty retailer's stock after buying an additional 38,897 shares during the period. Oppenheimer Asset Management Inc. owned about 0.11% of Genuine Parts worth $18,629,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Genuine Parts by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock valued at $198,338,000 after buying an additional 182,965 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Genuine Parts by 436.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock valued at $3,672,000 after buying an additional 25,583 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts in the 4th quarter valued at about $21,840,000. Parvin Asset Management LLC bought a new stake in shares of Genuine Parts in the 4th quarter valued at about $1,320,000. Finally, FORA Capital LLC grew its position in shares of Genuine Parts by 410.9% in the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock valued at $3,075,000 after buying an additional 21,178 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GPC. Truist Financial upped their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Evercore ISI dropped their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Genuine Parts presently has an average rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Stock Down 0.0%

GPC stock traded down $0.06 during trading on Tuesday, reaching $121.23. 740,498 shares of the stock were exchanged, compared to its average volume of 1,300,070. The firm's 50 day moving average is $121.52 and its 200 day moving average is $119.95. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $149.22. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. The firm has a market cap of $16.83 billion, a P/E ratio of 19.91 and a beta of 0.76.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. As a group, research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

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.