Genuine Parts (NYSE:GPC) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its position in Genuine Parts (NYSE:GPC) by 17.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,762 shares of the specialty retailer’s stock after selling 382 shares during the period. Fisher Asset Management LLC’s holdings in Genuine Parts were worth $246,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Cetera Advisors LLC raised its position in Genuine Parts by 110.9% during the 1st quarter. Cetera Advisors LLC now owns 22,183 shares of the specialty retailer’s stock worth $3,437,000 after buying an additional 11,663 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Genuine Parts by 43.8% during the second quarter. GAMMA Investing LLC now owns 1,917 shares of the specialty retailer’s stock worth $265,000 after purchasing an additional 584 shares during the last quarter. First Hawaiian Bank lifted its position in Genuine Parts by 6.6% during the second quarter. First Hawaiian Bank now owns 7,168 shares of the specialty retailer’s stock valued at $991,000 after purchasing an additional 442 shares during the period. DNB Asset Management AS boosted its holdings in Genuine Parts by 6.2% in the second quarter. DNB Asset Management AS now owns 22,000 shares of the specialty retailer’s stock valued at $3,043,000 after purchasing an additional 1,294 shares during the last quarter. Finally, Mather Group LLC. grew its position in Genuine Parts by 19.5% during the 2nd quarter. Mather Group LLC. now owns 2,977 shares of the specialty retailer’s stock worth $412,000 after purchasing an additional 485 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GPC has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. UBS Group lowered their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Wedbush cut their price objective 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Down 0.1 %

GPC stock opened at $126.73 on Monday. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. 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 firm has a 50-day simple moving average of $128.43 and a 200-day simple moving average of $136.28. The stock has a market capitalization of $17.62 billion, a P/E ratio of 16.31 and a beta of 0.92.

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 the consensus estimate 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 return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.49 earnings per share. Equities analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.16%. Genuine Parts’s dividend payout ratio (DPR) 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.