Hamlin Capital Management LLC Increases Stock Holdings in Genuine Parts (NYSE:GPC)

Hamlin Capital Management LLC boosted its position in shares of Genuine Parts (NYSE:GPC) by 12.3% in the third quarter, HoldingsChannel.com reports. The fund owned 591,075 shares of the specialty retailer’s stock after purchasing an additional 64,520 shares during the period. Genuine Parts accounts for 2.1% of Hamlin Capital Management LLC’s holdings, making the stock its 25th largest position. Hamlin Capital Management LLC’s holdings in Genuine Parts were worth $82,561,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC boosted 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 acquiring an additional 66 shares during the period. Triad Wealth Partners LLC purchased a new position in Genuine Parts during the 2nd quarter valued at about $40,000. Armstrong Advisory Group Inc. boosted its holdings in Genuine Parts by 63.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 141 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in Genuine Parts by 92.2% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock valued at $50,000 after acquiring an additional 178 shares during the period. Finally, Salomon & Ludwin LLC boosted its holdings in Genuine Parts by 588.7% during the 1st quarter. Salomon & Ludwin LLC now owns 427 shares of the specialty retailer’s stock valued at $66,000 after acquiring an additional 365 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group decreased their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial decreased their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $114.24 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.54 and a current ratio of 1.17. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a market capitalization of $15.92 billion, a PE ratio of 14.70 and a beta of 0.90. The stock’s 50-day simple moving average is $137.22 and its 200-day simple moving average is $142.12.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period last year, the business posted $2.49 EPS. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts forecast that Genuine Parts will post 8.1 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

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.