Genuine Parts (NYSE:GPC) Shares Sold by Tredje AP fonden

Tredje AP fonden trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,042 shares of the specialty retailer’s stock after selling 344 shares during the period. Tredje AP fonden’s holdings in Genuine Parts were worth $3,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GPC. Manchester Capital Management LLC boosted its holdings in shares of Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 66 shares during the period. North Star Investment Management Corp. boosted its stake in Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after purchasing an additional 70 shares during the period. CHICAGO TRUST Co NA grew its position in Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after purchasing an additional 71 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after purchasing an additional 75 shares during the period. Finally, HBK Sorce Advisory LLC increased its stake in shares of Genuine Parts by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after purchasing an additional 80 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Trading Up 0.8 %

Genuine Parts stock opened at $139.14 on Friday. The firm has a market cap of $19.38 billion, a price-to-earnings 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. The firm’s 50 day moving average price is $139.71 and its two-hundred day moving average price is $145.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate 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 company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $2.44 earnings per share. On average, research analysts predict that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on GPC shares. The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Evercore ISI decreased their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. UBS Group dropped their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Wedbush cut 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. Finally, Truist Financial reissued a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.