Genuine Parts (NYSE:GPC) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in shares of Genuine Parts (NYSE:GPC) by 22.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 221,936 shares of the specialty retailer’s stock after purchasing an additional 41,262 shares during the quarter. Franklin Resources Inc.’s holdings in Genuine Parts were worth $30,947,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts during the third quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners raised its position in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts in the 3rd quarter valued at $44,000. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of Genuine Parts by 92.2% in 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 last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

GPC opened at $115.59 on Thursday. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm’s fifty day simple moving average is $124.55 and its two-hundred day simple moving average is $134.05. The company has a market cap of $16.07 billion, a price-to-earnings ratio of 14.88 and a beta of 0.94.

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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Truist Financial reduced their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $139.57.

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.