Federated Hermes Inc. Grows Stake in Genuine Parts Company $GPC

Federated Hermes Inc. lifted its stake in Genuine Parts Company (NYSE:GPC) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 886,493 shares of the specialty retailer’s stock after purchasing an additional 4,333 shares during the quarter. Federated Hermes Inc. owned 0.64% of Genuine Parts worth $122,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Peoples Financial Services CORP. purchased a new position in Genuine Parts in the third quarter worth about $29,000. Golden State Wealth Management LLC increased its position in shares of Genuine Parts by 8,833.3% during the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after acquiring an additional 265 shares in the last quarter. Concord Wealth Partners raised its holdings in Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after acquiring an additional 177 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Genuine Parts by 7,825.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 313 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its stake in Genuine Parts by 49.1% during the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 114 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $139.27 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $19.37 billion, a PE ratio of 23.97 and a beta of 0.75. The firm’s 50 day moving average price is $129.24 and its 200-day moving average price is $132.07. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $143.48.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Friday, December 5th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. Genuine Parts’s payout ratio is presently 70.91%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GPC. Truist Financial boosted their price target on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. UBS Group boosted their target price on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. raised their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Evercore ISI boosted their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.