Genuine Parts (NYSE:GPC) Stock Holdings Trimmed by Court Place Advisors LLC

Court Place Advisors LLC decreased its holdings in Genuine Parts (NYSE:GPC) by 10.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,450 shares of the specialty retailer’s stock after selling 300 shares during the quarter. Court Place Advisors LLC’s holdings in Genuine Parts were worth $342,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Wulff Hansen & CO. increased its stake in Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after buying an additional 1,555,149 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after acquiring an additional 580,262 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of Genuine Parts by 3,029.9% in the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after acquiring an additional 368,470 shares in the last quarter. Natixis increased its stake in shares of Genuine Parts by 768.4% during the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after acquiring an additional 279,930 shares during the period. Finally, Anchor Capital Advisors LLC raised its holdings in Genuine Parts by 1,457.3% during the first quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock worth $41,825,000 after purchasing an additional 252,626 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GPC. Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group dropped their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. Evercore ISI raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Trading Up 1.5 %

Shares of NYSE GPC traded up $1.66 during mid-day trading on Friday, hitting $114.77. 212,542 shares of the company traded hands, compared to its average volume of 998,209. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock has a market capitalization of $15.99 billion, a price-to-earnings ratio of 12.61 and a beta of 0.90. The business has a 50 day moving average of $137.72 and a two-hundred day moving average of $142.43.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 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 analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.49 earnings per share. On average, sell-side analysts anticipate that Genuine Parts will post 9.37 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 given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

Genuine Parts 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.