Genuine Parts (NYSE:GPC) Stock Position Lowered by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co lessened its position in Genuine Parts (NYSE:GPC) by 1.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on GPC shares. The Goldman Sachs Group dropped their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday. Evercore ISI lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Wedbush decreased their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

GPC opened at $113.11 on Friday. The stock 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 1 year low of $112.74 and a 1 year 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 has a fifty day moving average price of $137.72 and a 200 day moving average price of $142.43.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.49 EPS. Analysts forecast that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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

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.