First National Trust Co Sells 198 Shares of Genuine Parts (NYSE:GPC)

First National Trust Co lessened its stake in Genuine Parts (NYSE:GPC) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,185 shares of the specialty retailer’s stock after selling 198 shares during the quarter. First National Trust Co’s holdings in Genuine Parts were worth $2,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. First Citizens Bank & Trust Co. lifted its holdings in Genuine Parts by 4.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after buying an additional 75 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in 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 acquiring an additional 80 shares during the last quarter. Dover Advisors LLC increased its position in Genuine Parts by 5.1% in the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after purchasing an additional 85 shares during the period. Blackhawk Capital Partners LLC. raised its holdings in Genuine Parts by 1.3% during the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock worth $940,000 after purchasing an additional 86 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Genuine Parts by 3.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,173 shares of the specialty retailer’s stock valued at $439,000 after purchasing an additional 92 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Up 0.3 %

NYSE:GPC opened at $122.70 on Wednesday. The stock has a 50-day simple moving average of $131.64 and a 200 day simple moving average of $139.05. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a market cap of $17.06 billion, a PE ratio of 15.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.49 earnings per share. On average, sell-side analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a dividend of $1.00 per share. 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 3.26%. Genuine Parts’s dividend payout ratio is 51.48%.

Analyst Ratings Changes

Several brokerages have recently commented on GPC. Wedbush lowered their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Truist Financial dropped their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Genuine Parts presently has an average rating of “Hold” and an average 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.