Genuine Parts (NYSE:GPC) Shares Sold by Argent Trust Co

Argent Trust Co lessened its position in shares of Genuine Parts (NYSE:GPC) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,313 shares of the specialty retailer’s stock after selling 337 shares during the quarter. Argent Trust Co’s holdings in Genuine Parts were worth $735,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Genuine Parts during the 2nd quarter valued at about $1,582,000. Edgestream Partners L.P. boosted its position in Genuine Parts by 266.5% during the second quarter. Edgestream Partners L.P. now owns 6,007 shares of the specialty retailer’s stock worth $831,000 after purchasing an additional 4,368 shares in the last quarter. Wulff Hansen & CO. grew its holdings in Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after purchasing an additional 1,555,149 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Genuine Parts in the second quarter valued at approximately $10,900,000. Finally, Citizens Financial Group Inc. RI raised its stake in shares of Genuine Parts by 12.3% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 3,685 shares of the specialty retailer’s stock worth $513,000 after buying an additional 404 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.8 %

Shares of Genuine Parts stock opened at $139.14 on Friday. 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 stock’s 50 day simple moving average is $139.71 and its 200-day simple moving average is $145.46. The stock has a market cap of $19.38 billion, a P/E ratio of 15.51 and a beta of 0.90. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $6.03 billion. During the same period last year, the firm posted $2.44 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Analysts predict that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

Analyst Ratings Changes

GPC has been the topic of a number of research analyst reports. Wedbush cut their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Truist Financial restated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. UBS Group lowered their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Finally, The Goldman Sachs Group lowered their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $161.14.

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.