Goodman Advisory Group LLC Sells 278 Shares of Genuine Parts (NYSE:GPC)

Goodman Advisory Group LLC cut its position in Genuine Parts (NYSE:GPC) by 16.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,364 shares of the specialty retailer’s stock after selling 278 shares during the period. Goodman Advisory Group LLC’s holdings in Genuine Parts were worth $191,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Czech National Bank increased its stake in shares of Genuine Parts by 7.6% in the second quarter. Czech National Bank now owns 26,545 shares of the specialty retailer’s stock valued at $3,672,000 after buying an additional 1,878 shares in the last quarter. RFG Advisory LLC boosted its stake in shares of Genuine Parts by 139.7% in the 2nd quarter. RFG Advisory LLC now owns 3,488 shares of the specialty retailer’s stock valued at $482,000 after purchasing an additional 2,033 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Genuine Parts by 18.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,056 shares of the specialty retailer’s stock worth $1,391,000 after buying an additional 1,563 shares during the period. M&G Plc bought a new position in Genuine Parts in the second quarter valued at approximately $976,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Genuine Parts by 6.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 51,033 shares of the specialty retailer’s stock worth $7,059,000 after acquiring an additional 3,014 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

NYSE GPC opened at $125.93 on Tuesday. The firm’s 50 day moving average is $126.76 and its 200-day moving average is $135.08. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $17.51 billion, a PE ratio of 16.21 and a beta of 0.94. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business 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 company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $2.49 earnings per share. Equities research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of analyst reports. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group lowered 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 note on Wednesday, October 23rd. Finally, Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $139.57.

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.