CHICAGO TRUST Co NA Acquires 333 Shares of Genuine Parts (NYSE:GPC)

CHICAGO TRUST Co NA grew its holdings in shares of Genuine Parts (NYSE:GPC) by 20.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,999 shares of the specialty retailer’s stock after purchasing an additional 333 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Genuine Parts were worth $279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. WD Rutherford LLC acquired a new position in shares of Genuine Parts during the first quarter worth approximately $26,000. Thompson Investment Management Inc. purchased a new stake in Genuine Parts in the 1st quarter valued at $35,000. Stephens Consulting LLC raised its position in Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in Genuine Parts by 149.0% in the 1st quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 152 shares during the last quarter. Finally, Quarry LP raised its position in Genuine Parts by 138.7% in the 4th quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 165 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 2.8 %

Shares of NYSE GPC opened at $137.24 on Monday. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The company has a market cap of $19.12 billion, a P/E ratio of 15.30 and a beta of 0.90. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The business has a 50-day simple moving average of $138.60 and a two-hundred day simple moving average of $143.55.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 EPS. Research analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a dividend of $1.00 per share. 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%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GPC. Evercore ISI lowered their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Wedbush decreased their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Truist Financial reaffirmed a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. 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.com, the stock currently has an average rating of “Hold” and an average price target of $161.14.

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.