Brookstone Capital Management Has $989,000 Holdings in Genuine Parts (NYSE:GPC)

Brookstone Capital Management raised its holdings in Genuine Parts (NYSE:GPC) by 20.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,470 shares of the specialty retailer’s stock after purchasing an additional 1,441 shares during the quarter. Brookstone Capital Management’s holdings in Genuine Parts were worth $989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts during the third quarter worth $31,000. Concord Wealth Partners boosted its position in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Genuine Parts in the third quarter valued at $44,000. Finally, Armstrong Advisory Group Inc. increased its holdings in shares of Genuine Parts by 63.8% in the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 141 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GPC. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Evercore ISI upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average price target of $141.50.

Genuine Parts Stock Up 1.7 %

NYSE GPC opened at $119.38 on Friday. The company has a market cap of $16.60 billion, a price-to-earnings ratio of 15.36 and a beta of 0.95. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $120.84 and a 200-day moving average of $130.61.

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

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.35%. Genuine Parts’s dividend payout ratio is 51.48%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Profile

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.