United Asset Strategies Inc. has $629,000 position in Genuine Parts (NYSE:GPC)

United Asset Strategies Inc. reduced its position in shares of Genuine Parts (NYSE:GPC – Free Report) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,551 shares of the specialty retailer’s stock after selling 350 shares during the quarter. Holdings of United Asset Strategies Inc. in Genuine Parts were worth $629,000 at the end of the most recent quarter.

Several other large investors have recently added to or reduced their stakes in GPC. Norges Bank purchased a new stake in Genuine Parts during the fourth quarter valued at $215,643,000. Stifel Financial Corp raised its stake in shares of Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in Genuine Parts by 3,029.9% in the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after acquiring an additional 368,470 shares in the last quarter. Morningstar Investment Services LLC raised its stake in Genuine Parts by 161.2% in the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after purchasing an additional 357,091 shares during the last quarter. Finally, Natixis boosted its stake in Genuine Parts by 768.4% in the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after purchasing an additional 279,930 shares in the last quarter. 78.83% of shares are owned by institutional investors and hedge funds.

Stock of original parts by 0.7%

Shares of GPC stock opened at $143.26 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12, and a quick ratio of 0.54. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The company has a 50 day moving average of $139.08 and a two hundred day moving average of $146.26. The stock has a market cap of $19.96 billion, a price-to-earnings ratio of 15.97 and a beta of 0.92.

Genuine Parts (NYSE:GPC – Get Your Free Report ) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Original Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. In the same quarter last year, the company earned $2.44 per share. The company’s revenue rose 0.8% year-over-year. As a group, equities research analysts anticipate that Genuine Parts will post 9.37 EPS for the current year.

Original parts announce dividends

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a dividend of $1.00 per share. This represents a dividend of $4.00 on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, September 6. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analysts on Wall Street are forecasting an increase

A number of research firms recently weighed in on GPC. UBS Group dropped their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial reiterated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. Evercore ISI reduced their price objective on shares of Original Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Goldman Sachs Group cut their price objective on shares of Original Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Original Parts from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $161.14, according to MarketBeat.com.

See the latest analysis of original parts stocks

Profile of original parts

(Free report)

Genuine Parts Company distributes automotive replacement parts and industrial parts and materials. It operates in two segments: the Automotive Parts Group and the Industrial Parts Group segments. The company distributes auto parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, agricultural vehicles, small engines, agricultural equipment, marine equipment and heavy equipment; and equipment and parts used by repair shops, service stations, fleet operators, car and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms and individuals.

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