The Concert Wealth Management Inc. Raises its position in Genuine Parts Co. (GPC) as a favorable investment target.

The Concert Wealth Management Inc. Raises its position in Genuine Parts Co. (GPC) as a favorable investment target.

Concert Wealth Management Inc. boosted its stake in shares of Genuine Parts Co. (NYSE:GPC) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,684 shares of the company’s stock after buying an additional 32 shares during the period. Concert Wealth Management Inc.’s holdings in Genuine Parts were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC raised its stake in shares of Genuine Parts by 0.8% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,008 shares of the company’s stock valued at $100,000 after buying an additional 8 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in shares of Genuine Parts by 0.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 6,428 shares of the company’s stock valued at $651,000 after buying an additional 20 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Genuine Parts by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 1,679 shares of the company’s stock valued at $170,000 after buying an additional 40 shares during the last quarter. Cribstone Capital Management LLC boosted its position in shares of Genuine Parts by 2.1% in the second quarter. Cribstone Capital Management LLC now owns 2,275 shares of the company’s stock valued at $230,000 after buying an additional 46 shares during the period. Finally, Pennsylvania Trust Co boosted its position in shares of Genuine Parts by 2.3% in the second quarter. Pennsylvania Trust Co now owns 4,240 shares of the company’s stock valued at $429,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 71.56% of the company’s stock.

Genuine Parts Co. (NYSE:GPC) traded down 0.50% during trading on Thursday, hitting $97.60. The stock had a trading volume of 188,451 shares. The firm has a market cap of $14.53 billion, a P/E ratio of 21.08 and a beta of 0.92. The company has a 50-day moving average of $100.02 and a 200 day moving average of $99.14. Genuine Parts Co. has a 52-week low of $76.50 and a 52-week high of $105.97.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 19th. The company reported $1.28 EPS for the quarter, missing the Zacks’ consensus estimate of $1.29 by $0.01. Genuine Parts had a return on equity of 21.79% and a net margin of 4.59%. The company earned $3.90 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the business posted $1.28 earnings per share. On average, equities research analysts predict that Genuine Parts Co. will post $4.73 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were issued a $0.6575 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $2.63 dividend on an annualized basis and a yield of 2.68%. Genuine Parts’s dividend payout ratio is currently 56.68%.

Several equities analysts have recently weighed in on the company. Susquehanna assumed coverage on Genuine Parts in a research report on Thursday, August 25th. They issued a “neutral” rating and a $102.00 price target for the company. Argus reiterated a “buy” rating and issued a $108.00 price target (up from $106.00) on shares of Genuine Parts in a research report on Monday, July 25th. Zacks Investment Research cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Wedbush reiterated a “neutral” rating and issued a $98.00 price target on shares of Genuine Parts in a research report on Wednesday, July 20th. Finally, Jefferies Group cut Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 price target for the company. in a research report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $99.82.

About Genuine Parts

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.

Related posts

Leave a Comment