LGT Financial Advisors LLC Cuts Stake in Genuine Parts (NYSE:GPC)

LGT Financial Advisors LLC cut its stake in Genuine Parts (NYSE:GPC) by 50.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211 shares of the specialty retailer’s stock after selling 216 shares during the quarter. LGT Financial Advisors LLC’s holdings in Genuine Parts were worth $30,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Concord Wealth Partners lifted its stake in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares in the last quarter. Manchester Capital Management LLC raised its holdings in Genuine Parts by 36.1% in the 1st 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 last quarter. Triad Wealth Partners LLC purchased a new position in Genuine Parts in the 2nd quarter worth approximately $40,000. Catalyst Capital Advisors LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth approximately $44,000. Finally, Rosenberg Matthew Hamilton grew its position in shares of Genuine Parts by 92.2% in the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock valued at $50,000 after purchasing an additional 178 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 0.2 %

NYSE GPC opened at $123.06 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock has a market capitalization of $17.11 billion, a P/E ratio of 15.84 and a beta of 0.92. The firm’s 50-day moving average is $132.89 and its two-hundred day moving average is $140.18. 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 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). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the company posted $2.49 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.25%. Genuine Parts’s payout ratio is presently 51.48%.

Analysts Set New Price Targets

A number of equities analysts recently commented on GPC shares. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. 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 research report on Wednesday, October 23rd. Wedbush dropped 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. Evercore ISI lifted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group dropped their price target 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Company 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.