Harbour Trust & Investment Management Co Decreases Holdings in Genuine Parts (NYSE:GPC)

Harbour Trust & Investment Management Co decreased its stake in Genuine Parts (NYSE:GPC) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,023 shares of the specialty retailer’s stock after selling 165 shares during the period. Harbour Trust & Investment Management Co’s holdings in Genuine Parts were worth $1,400,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Genuine Parts by 726.9% during the 4th quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after purchasing an additional 48,122 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Genuine Parts by 255.5% during the 1st quarter. Sunbelt Securities Inc. now owns 647 shares of the specialty retailer’s stock valued at $100,000 after purchasing an additional 465 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in Genuine Parts by 11.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,418 shares of the specialty retailer’s stock valued at $2,079,000 after purchasing an additional 1,426 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Genuine Parts by 5.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 48,019 shares of the specialty retailer’s stock valued at $7,440,000 after purchasing an additional 2,548 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in Genuine Parts by 3.3% during the 1st quarter. 180 Wealth Advisors LLC now owns 3,037 shares of the specialty retailer’s stock valued at $471,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 2.7 %

Shares of NYSE GPC opened at $113.11 on Friday. The company has a market cap of $15.76 billion, a price-to-earnings ratio of 12.61 and a beta of 0.90. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $137.72 and its 200 day simple moving average is $142.43.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) 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 the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business posted $2.49 EPS. Equities research analysts expect that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.54%. The ex-dividend date was Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

Analyst Ratings Changes

A number of brokerages have weighed in on GPC. The Goldman Sachs Group lowered their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday. UBS Group decreased their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Wedbush decreased their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Company 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.