Genuine Parts (NYSE:GPC) Stock Position Reduced by Financial Security Advisor Inc.

Financial Security Advisor Inc. lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,677 shares of the specialty retailer’s stock after selling 106 shares during the quarter. Financial Security Advisor Inc.’s holdings in Genuine Parts were worth $236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GPC. Concord Wealth Partners lifted its position in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the last quarter. Manchester Capital Management LLC lifted its position in Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in Genuine Parts during the second quarter valued at about $40,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at about $44,000. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Genuine Parts by 92.2% in the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock worth $50,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Up 0.5 %

NYSE GPC opened at $116.66 on Wednesday. The stock’s 50 day simple moving average is $133.66 and its 200 day simple moving average is $140.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm has a market cap of $16.22 billion, a PE ratio of 15.01 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced its 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 business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the business posted $2.49 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast 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 Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.43%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio is 51.48%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GPC. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Wedbush lowered their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group reduced 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, October 23rd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.