Simplicity Wealth LLC trimmed its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 42.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,863 shares of the specialty retailer's stock after selling 4,347 shares during the quarter. Simplicity Wealth LLC's holdings in Genuine Parts were worth $819,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. WD Rutherford LLC purchased a new stake in Genuine Parts during the first quarter worth $26,000. Union Savings Bank raised its holdings in shares of Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer's stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Thompson Investment Management Inc. acquired a new position in shares of Genuine Parts in the first quarter worth $35,000. Stephens Consulting LLC raised its holdings in shares of Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 200 shares during the last quarter. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of Genuine Parts by 149.0% in the first quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer's stock worth $39,000 after acquiring an additional 152 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on GPC shares. Evercore ISI cut their price target on Genuine Parts from $150.00 to $148.00 and set an "in-line" rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group dropped their target price on Genuine Parts from $166.00 to $162.00 and set a "neutral" rating for the company in a research note on Wednesday, July 24th. StockNews.com lowered Genuine Parts from a "buy" rating to a "hold" rating in a research note on Friday, October 4th. UBS Group dropped their target price on Genuine Parts from $165.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, July 3rd. Finally, Wedbush dropped their target price on Genuine Parts from $170.00 to $145.00 and set a "neutral" rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Genuine Parts currently has a consensus rating of "Hold" and an average target price of $161.14.
View Our Latest Report on GPC
Shares of NYSE GPC opened at $137.24 on Friday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The business has a 50-day moving average of $138.60 and a 200-day moving average of $143.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The company has a market capitalization of $19.12 billion, a price-to-earnings ratio of 15.30 and a beta of 0.90.
Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.03 billion. During the same period in the previous year, the company earned $2.44 EPS. Genuine Parts's quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate that Genuine Parts will post 9.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, September 6th. Genuine Parts's payout ratio is 44.59%.
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.
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