STAR Financial Bank Has $407,000 Stock Position in Genuine Parts (NYSE:GPC)

STAR Financial Bank lessened its position in shares of Genuine Parts (NYSE:GPC) by 12.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,912 shares of the specialty retailer’s stock after selling 433 shares during the period. STAR Financial Bank’s holdings in Genuine Parts were worth $407,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the 3rd quarter worth $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts in the 3rd quarter worth about $31,000. Concord Wealth Partners boosted its holdings in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the period. Triad Wealth Partners LLC bought a new position in shares of Genuine Parts during the second quarter worth approximately $40,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GPC. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Wedbush reduced their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average price target of $139.57.

Genuine Parts Trading Down 0.4 %

GPC opened at $120.76 on Thursday. The company’s 50 day moving average is $129.96 and its 200-day moving average is $137.71. The company has a market cap of $16.79 billion, a P/E ratio of 15.54 and a beta of 0.92. 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 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last posted 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). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.49 EPS. Equities research analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.31%. Genuine Parts’s dividend payout ratio is presently 51.48%.

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.