Baird Financial Group Inc. boosted its stake in shares of Genuine Parts (NYSE:GPC) by 2.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 21,618 shares of the specialty retailer’s stock after buying an additional 520 shares during the period. Baird Financial Group Inc.’s holdings in Genuine Parts were worth $2,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GPC. NumerixS Investment Technologies Inc bought a new position in shares of Genuine Parts in the second quarter valued at $110,000. Piedmont Investment Advisors LLC purchased a new position in shares of Genuine Parts during the 2nd quarter valued at $158,000. Community Bank & Trust Waco Texas purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $206,000. Ridgewood Investments LLC purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $211,000. Finally, Verity Asset Management Inc. bought a new stake in Genuine Parts in the third quarter worth $212,000. Institutional investors own 80.55% of the company’s stock.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Finally, Bank of America lowered shares of Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 price target for the company. in a research report on Tuesday, October 30th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Genuine Parts currently has an average rating of “Hold” and a consensus price target of $104.60.

Shares of NYSE:GPC opened at $99.54 on Monday. Genuine Parts has a 12 month low of $85.80 and a 12 month high of $107.75. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The firm has a market cap of $14.61 billion, a P/E ratio of 21.45, a P/E/G ratio of 2.65 and a beta of 1.11.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, October 18th. The specialty retailer reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. Genuine Parts had a net margin of 3.99% and a return on equity of 22.54%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Research analysts predict that Genuine Parts will post 5.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 7th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, December 6th. Genuine Parts’s payout ratio is 62.07%.

In other Genuine Parts news, Director John R. Holder acquired 500 shares of the company’s stock in a transaction on Monday, November 26th. The stock was acquired at an average price of $100.81 per share, for a total transaction of $50,405.00. Following the purchase, the director now directly owns 7,058 shares of the company’s stock, valued at $711,516.98. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

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Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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