Brown Brothers Harriman & Co. Has $810,000 Stock Holdings in Genuine Parts (NYSE:GPC)

Brown Brothers Harriman & Co. trimmed its position in Genuine Parts (NYSE:GPC) by 4.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,797 shares of the specialty retailer’s stock after selling 240 shares during the period. Brown Brothers Harriman & Co.’s holdings in Genuine Parts were worth $810,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Miramar Capital LLC boosted its holdings in Genuine Parts by 9.8% in the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after acquiring an additional 7,845 shares during the last quarter. Conning Inc. boosted its stake in shares of Genuine Parts by 8.2% in the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after purchasing an additional 19,795 shares during the last quarter. WD Rutherford LLC grew its position in shares of Genuine Parts by 4,265.9% during the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after buying an additional 7,252 shares during the period. Comerica Bank raised its stake in shares of Genuine Parts by 19.6% during the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after buying an additional 18,657 shares during the last quarter. Finally, Hamlin Capital Management LLC raised its stake in shares of Genuine Parts by 12.3% during the third quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after buying an additional 64,520 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPC has been the subject of a number of analyst reports. UBS Group lowered their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. 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, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Trading Down 1.2 %

NYSE:GPC opened at $127.88 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The business’s 50-day simple moving average is $129.29 and its 200-day simple moving average is $136.96. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The stock has a market capitalization of $17.78 billion, a PE ratio of 16.46 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the previous year, the firm posted $2.49 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 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.