Stonegate Investment Group LLC Sells 575 Shares of Genuine Parts (NYSE:GPC)

Stonegate Investment Group LLC decreased its position in shares of Genuine Parts (NYSE:GPC) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,504 shares of the specialty retailer’s stock after selling 575 shares during the period. Stonegate Investment Group LLC’s holdings in Genuine Parts were worth $1,747,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Genuine Parts by 726.9% in the fourth quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after acquiring an additional 48,122 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Genuine Parts by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 2,355 shares of the specialty retailer’s stock worth $326,000 after buying an additional 103 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Genuine Parts in the 4th quarter worth about $276,000. CWM LLC raised its position in shares of Genuine Parts by 30.2% during the 1st quarter. CWM LLC now owns 5,763 shares of the specialty retailer’s stock valued at $893,000 after buying an additional 1,337 shares in the last quarter. Finally, NBC Securities Inc. lifted its holdings in shares of Genuine Parts by 14.1% in the 1st quarter. NBC Securities Inc. now owns 3,571 shares of the specialty retailer’s stock valued at $553,000 after acquiring an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.3 %

Genuine Parts stock traded down $0.46 during mid-day trading on Friday, reaching $143.17. 88,304 shares of the company were exchanged, compared to its average volume of 955,246. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The business has a fifty day moving average of $138.85 and a 200 day moving average of $143.34. The firm has a market cap of $19.94 billion, a P/E ratio of 16.01 and a beta of 0.90. 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 posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion during 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%. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. Research analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.79%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analyst Ratings Changes

GPC has been the subject of a number of analyst reports. Wedbush lowered their price target 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. Evercore ISI dropped their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group decreased their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, UBS Group lowered their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $157.29.

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.